The retail financial services space can do itself a favor by making a few organic improvements, according to Danny Ludeman, chief executive officer at Wells Fargo Advisors.

Ludeman, who keynoted today’s session at the 2012 MMI Annual Convention, said theindustry needs to attract more diverse workforce such as women and other ethnicities. “The fact is, the industry is dominated by people like me (white, hetero males),” he said. “The average age of advisors is 59, which is shocking. We can do a lot more to foster an industry that celebrates innovation by individuals, even if they’re different.”

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