Many within the industry perceive the wirehouses as old and stodgy, but as this year’s list of Top 40 Wirehouse Advisors Under 40 proves, these firms are full of young talent, each with billions of assets under management. This year, the top ten advisors averaged 36.9 years old, while the average age of advisors within the wirehouses currently sits at 51, according to Cerulli Associates' 2012 data.
It's also interesting to note that this year, the top 10 advisors are housed only in three out of the four wirehouses—Wells Fargo advisors didn't make the cut. Meanwhile, Merrill Lynch and UBS tied for the highest number of advisors within the top 10, four apiece.
Methodology: Advisors on the Top 40 Wirehouse Advisors Under 40 list are ranked exclusively by assets under management custodied at the four wirehouse firms. Only advisors for whom 60 percent or more of assets correspond to retail clients were eligible for the list. Advisors must be under the age of 40 as of August 2013. REP. magazine and WealthManagement.com do not receive any compensation from financial advisors, participating firms and affiliates, or the media in exchange for rankings.