The average age of advisors in the United States is 50, according to Cerulli Associates, and about 40 percent of them are more than 55 years old. Foy noted that the impending retirement of older advisors alerts younger advisors to give clear and consistent communication with investors, rather than relying on just technology.
The study ranked firms based on customer satisfaction, based on an overall satisfaction score on a 1,000-point scale. The average score was 839. Charles Schwab ranked first in customer approval for the third year, with a score of 867. Edward Jones scored an 866 and Stifel Nicolaus scored 865.