A recent DeVoe & Company report highlights a troubling trend: advisor turnover among independent RIAs is climbing sharply. Nearly 10% of firms experienced “much higher” attrition, while another 20% saw “somewhat higher” advisor exits—compared to just 2% and 14%, respectively, in last year’s report.

The Root Cause: A Talent Development Breakdown

According to DeVoe’s 2025 Talent & Growth Survey, advisory firms are falling behind when it comes to building sustainable career paths. Among the key findings:

• A majority (68%) of next-gen advisors prioritize a well-defined career path.
• Nearly half (46%) are seeking a clear path to ownership.
• One-third want more formal coaching and training.

However, far too many firms are failing to deliver:

• Only 40% of RIAs reported having adequate training programs.
• Just 38% now have clearly articulated career paths—dating down from 50% last year and nearly 60% two years ago.
• Many instead rely on informal or ad hoc development—sometimes none at all.

DeVoe bluntly terms the situation: “Firms are slipping backward on the fundamentals of people development,” producing a “drift toward mediocrity.”

Consequences for Firm Leadership & Succession

The lack of structured career planning isn’t just hurting retention—it’s foreshadowing succession chaos. Only 27% of firms feel they have next-gen talent ready to step into leadership. Meanwhile, 44% predict a “bumpy transition” ahead.

DeVoe’s advice is clear: firms serious about long-term stability should start selling equity early and begin building internal leadership pipelines before it’s too late.

Why Advisor Outreach Believes Talent Development Wins

Though this report wasn’t written with recruiting firms in mind, the implications are plain. At Advisor Outreach, we’ve built our reputation by recognizing and solving for things like this—before they become crises.

We don’t just help advisors navigate broker-dealer transitions. We help them position themselves for long-term growth:

• Guaranteed clarity: We only introduce advisors to firms that prioritize transparency—especially around growth, equity and succession structures.
• Career growth, not just comp: The best transitions go beyond money. They deliver development, ownership, and a clear path forward.
• Peace of mind with partners: So many advisors tell us they’ve been underserved by repeated “no path” responses. We make sure that’s not how our process goes.

In Summary

The talent crisis in RIA firms is real—and growing. If your firm hasn’t clearly mapped out long-term growth paths and succession, advisors will—and should—look elsewhere.

At Advisor Outreach, we don’t just offer a new home. We help secure a future.