Younger advisors are outpacing their elder peers in attracting AUM, according to a Fidelity study that surprised even its authors.
Gen X and Gen Y planners had an average of $8 million more in AUM in their practices compared to their baby boomer counterparts, according to the study, which surveyed 1,200 planners, from RIAs to wirehouses, last year. That discrepancy came as a surprise to the Fidelity researchers, says Alexandra Taussig, a senior vice president with the Fidelity's National Financial division.
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