Are advisors at banks and credit unions more diverse than those at wirehouses and independent firms? In terms of age and gender, they are, giving them an edge in attracting women and millennials, say researchers at Kehrer Bielan Research & Consulting.
The average age of bank and credit union advisors is a relatively young 44, according to data Kehrer Bielan collected from 1,284 banks and credit unions in March and April. That's seven years younger than the average advisor at an independent broker-dealer firm and eight years younger than the average wirehouse advisor, according to data from Cerulli Associates.
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