Brokerage executives are confronting a big demographic headache.

About one-third of all advisors are expected to retire or otherwise exit the business in the next 10 years, according to data from Cerulli Associates. One might assume that a firm such as Edward Jones, which hired about 3,000 trainees for its recruiting program last year, might be immune from this issue. But Dalton Schumacher, Edward Jones principal of assets and office sharing, says the firm still faces the same problem as everyone else.

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