The biggest banks are having some success in certain points of succession planning. And even a few small banks, with one big caveat, are seeing some progress.
Indeed, this is an issue the channel is beginning to encounter, says Frank Drago, executive vice president of Citizens Bank and president of Citizens Securities. The often-cited problems of an aging work faces are magnified by the fact that those advisors in their late 40 and early 50s are being heavily recruited by the wirehouses, he says.
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