Lead RIAs and Associates Are Getting Younger
TD Ameritrade's study finds that the median age of RIA firm principals is now 49, down from 52 in 2015. The number of owners who are 40 years of age or younger equals the number of firm owners who are over 60. Also, the study reveals that the median age of firm associates dropped from 44 to 42, and the median age of lead advisers is down from 50 to 46.
In addition, the study found that a typical firm's operating profit margin in 2018 rose to 21% while overhead expenses as a share of revenue decreased slightly. The increase in median total income for firm owners to $633,000 constitutes 3.6%, the highest since 2014.
The study included responses from 405 qualifying firms during February and March of 2019. To qualify for the study, a firm was required to have a minimum of $100,000 in annual revenues and have been in business for at least 12 months to qualify for participation.
Related Attorneys: James J. Eccleston
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