Respect your youngers and get ready for the next generation of advisors.

Those are two key messages for financial advisors contemplating retirement that are included in a new report from Cerulli Associates.

"As a critical succession cliff approaches and aging advisors begin retiring in greater numbers, younger advisors and candidates will increasingly wield stronger leverage," states research analyst Marina Shtyrkov, one of the authors of the report. "Firms will need to take their preferences into serious consideration because this next generation will ultimately shape the financial advice business."

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Bernice Napach

Bernice Napach is a senior writer at ThinkAdvisor covering financial markets and asset managers, robo-advisors, college planning and retirement issues. She has worked at Yahoo Finance, Bloomberg TV, CNBC, Reuters, Investor's Business Daily and The Bond Buyer and has written articles for The New York Times, TheStreet.com, The Star-Ledger, The Record, Variety and Worth magazine. Bernice has a Bachelor of Science in Social Welfare from SUNY at Stony Brook.

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