RIAs are not planning for a transition in leadership, creating a ‘succession planning crisis’.

The RIA industry is likely to face succession hurdles in the coming years as a majority of large firms reported insufficient investment in the next generation of leadership. Most firms need to take steps to insure a succession plan is in place with urgency. Investment News talks about recent studies that show more than half of firms do not have these steps in place to allow young leaders to take over a firms operations smoothly. These firms needs to be planning the transfer of leadership for when their current leadership retires.