Succession · Independence · Analysis
The Advisor Endgame: Wirehouse vs. Independent Succession Options
An estimated 100,000 financial advisors are expected to retire in the coming years. The central question is not if they will monetize their business, but when and how.
By Advisor News Network
June 9, 2026
5 min
The wealth industry is gearing up for one of its largest transitions in history. An estimated 100,000 financial advisors are expected to retire in a number of years, representing trillions in client assets poised to change hands.
For advisors nearing retirement, or even those planning five to 10 years ahead, the central question is not if they will monetize their business, but when and how. It's easy to procrastinate, but the time to plan is now, with revenue at a peak and prior to others rushing to figure out their succession at the last minute as well.
Advisors in a captive environment or even a traditional 1099 program like Ameriprise or Raymond James have two main options: remain at a wirehouse and participate in an internal succession or retirement program, or transition to a truly independent firm or RIA and monetize equity externally.
This has led wirehouses to formalize and expand internal succession programs with earlier entry dates and higher payouts. Some allow advisors to enter as early as 55 if they have been at the firm for a set number of years. At the same time, the independent RIA market, fueled by private equity and aggregators, has driven valuations to levels that traditional firms struggle to match.
The result: advisors now face a fundamentally different set of tradeoffs than even five years ago.
TagsSuccessionRetirementRIAValuationsIndependence
