As the average age of financial advisors creeps upward, the industry is looking for the next generation of advisors to replace them.

However, as the general population becomes more diverse, firms are also looking for ways to attract people with different values and experiences. The benefits of a diverse work force to firms are more immediate than securing replacements for retiring advisors. A 2015 report by PwC of CEOs at global financial services firms found three-quarters of respondents believe diversity at their firms has led to more innovation, and better customer satisfaction and business performance.

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