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InvestmentNews finds that attrition, cuts in training programs at wirehouse programs, and new competition from hybrid-robos are making it difficult to fill job openings. According to Moss Adams, the industry is expected to face a shortfall of at least 200k adivsers by 2022. More and more home offices are doing acquisitions where the deals are about gaining the talent, even more so then the AUM>
"Three weeks ago, we weren't even hiring and now we have two positions to fill," said Mr. Yankee, a partner at the Reston, Va.-based firm with about $455 million in client assets. "The timing is terrible, not a whole lot of people are job hunting in early summer." Like other frustrated advisory firm owners, he knows it could be months before the vacancies are filled, given that the role of financial adviser is the second most difficult in the nation to hire for, right behind health services workers, according to an analysis by DHI Hiring.
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