Stop me if you have heard this before: there is an age problem in the financial services industry. With the average age of advisors hovering around 50-years-old, and 43 percent of advisors over the age of 55, the industry is bracing for retirement in droves. In fact, according to a study completed by Cerulli Associates, nearly one third of advisors plan to retire within the next decade and an estimated 200,000 advisors could retire by 2022.

At the crux of the issue is the question: who will inherit, purchase or manage the business when this retirement wave happens?

The industry better get busy engaging, training and empowering professionals that graduated college within the last dozen years or get comfortable with the idea that technology will replace more people than the current advisor population might like to admit.