Name: The ‘Most Important’ Part of Succession Planning Today
Uploaded: 2025-12-04T16:02:00Z
Duration: 2 min 15 s
Description: Advisors need to “invest in the younger folks,” says Merrill Lynch private wealth advisor Tony Carpentieri, who asserts that developing “energetic, new, up and coming, and emerging players is the most important part” of succession planning.

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Advisors need to “invest in the younger folks,” says Merrill Lynch private wealth advisor Tony Carpentieri, who asserts that developing “energetic, new, up and coming, and emerging players is the most important part” of succession planning.

https://m.wsj.net/video/20251204/b5efe5ba-edf5-4dc7-9040-2739b43dd9c4/1/hls/manifest-hd-wifi.m3u8

The ‘Most Important’ Part of Succession Planning Today

When I think about succession planning today, the development of the sort of energetic, new up and coming and emerging players is the most important part of it. And what I find in the industry is that we have that energy when we begin, we kind of become experts, but we need to reset and have that energy again and really invest in the younger folks. And thankfully no one on the team here is going anywhere. But I do think for the younger generation to build out that growth strategy, to empower them to feel good about what it is that they're building with us and alongside us, I think that is the key to sort of a true succession plan.

Well, I mean, you have an interesting perspective. We oftentimes put a lot of the onus on the younger generation to fill that role, the next succession plan. But you mentioned something that really resonated with me, I'm sure it did with some of the other listeners, and that's, it's also on the advisor that's retiring. That advisor has to spend the time with that, you know, younger advisor, that energetic advisor as you're mentioning, to help them along the way. I think oftentimes, you know, the past five, six years, I don't wanna say they get off scot free, but they've been getting larger checks.

Yeah, yeah.

To exit and not actually have that responsibility. But to really have success with your end client, it sounds like it has to be that partnership between the two generations.

Yeah, and I don't fault them. You know, I know I came up and everyone looked at the millennials and said that, you know, we might be a little bit of a lazier generation. What I do know is that we all need to help transferring the intensity that we all had when we started for everyone else to have. And every generation will look back on the, you know, next and say they're doing it differently. But you've gotta be open to advice and you've gotta bring in the right coaches in order to make sure that you are developing the right talent. And if you do that, I do think that we could find ourselves in an industry that is still blooming and could really have a great growth projection.