Nepotism in Industry
Is it just me or does everyone notice nepotism increases in advisor/RIA space every year?
It seems like the typical big advisor/firm owner works until 70 or so, and then brings in their under-qualified offspring who is in their 30s.
I make our BDs annual sales conference and increasingly it is advisor’s children with 2-4 years experience who inherited these huge books.
Does this typically work out or does the child eventually flame out? With recent market growth, even with 50% attrition, I am sure they are still doing very well.
To each their own, but it seems what makes a very successful advisor and leaders of our industry will change over the next 10-15 years, and not in a good way. Just would like to hear peoples’ experiences and thoughts.