And while millennials “get a bit of a bad rap with their impulsiveness and wanting everything now,’’ Stross noted they are not just jumping ship. They are making good, solid decisions, she said.
“They spent a lot of time researching the space and thinking about what this would mean," she added. “They are very much worried about being able to take care of their clients and knowing that they have the right solutions in place.”
Stross said some of the advisors have been looking to move and studying the space for a couple of years. “So that’s something that says a lot for kind of what the future of advisors is going to look like going forward because they are not going to be drawn to staying under the corporate environment for a long period of time.”
And while younger advisors are the ones out front and leading the movement, Stross said there also are some older advisors within some of the TruClarity groups. For these folks, Stross added, that hopefully represents an effort to create a built-in succession plan.