Pool of financial advisers will keep shrinking, Cerulli says

U.S. financial advisers decreased by about 4,000 in 2011, and the total is likely to decline an additional 18,600 during the next few years, according to Cerulli Associates. "The continual aging of the industry is not being offset by the influx of new talent," Associate Director Tyler Cloherty said. "The wire houses are starting to train people again, but it's just not enough to make up for the number of advisers retiring and leaving the industry."

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