E. Denby Brandon Jr. has been a financial planner since 1952, and that gives him some perspective--on the future as well as the past. "The most important skill has been, and will continue to be, the ability to persuade clients to sign an engagement agreement," says Brandon, whose firm, the Brandon Organization, is in Memphis. "Unless you have an agreement, you won't be able to do any planning. You must get people to accept your services."

Those running strong organizations will have an easier time doing that persuading. And that will put a premium on communications and organizational skills.

"Planners must become stronger leaders," says Diahann Lassus, president of Lassus Wherley & Associates, a wealth management firm in New Providence, N.J. "As the profession becomes increasingly complex, they'll need leadership abilities to deal with clients, with the people in their own organizations, and with other professionals. More often than in the past, planners will take the role of generalist, coordinating teams of specialists."

In this environment, some skills are likely to become less important, at least for a firm's top managers. "Planners who are used to doing everything--rebalancing portfolios, writing financial plans--won't be doing as much of that as their practice grows," says Marilyn Capelli Dimitroff, a planner in Bloomfield Hills, Mich. "They'll want others to do those sorts of things."

Another skill that may become less important five years from now is mastery of the tax code--especially if the 15% rate on dividends and long-term capital gains remains in effect. "Advisers will be less motivated to make tax reduction a major factor in their plans," says Tim Kochis, chief executive of Kochis Fitz Tracy Fitzhugh & Gott, a wealth management firm in San Francisco.

But not all technical skills will become passe, Kochis says. For instance, he sees a proficiency in global investing becoming increasingly critical.

Still other technical skills may come to the forefront as the huge baby boom generation ages and planners deal with more new retirees or pre-retirees. "The breadth of needs expands," says Chip Roame, managing principal of Tiburon Strategic Advisors, a research and consulting firm in California. "Older baby boomers will need more long-term care insurance and trusts, for example, and help making the transition to a comfortable retirement."

If the focus truly shifts from investing to other issues, at least for clients who have passed midlife, much more will come down to interpersonal skills. That will mean more education and training for planners, especially in behavioral finance.

"Planners will need to be able to inspire and motivate clients," says Dimitroff. "This will require them to be behavior-oriented. Coaching skills will rise in value."

Dimitroff tells of a meeting with a couple who wanted to buy two vacation homes for their retirement. After putting money down on both properties, the couple sought advice.

"I had to re-adjust their expectations," says Dimitroff. "I showed them what their life would look like in 10 years if they depleted their investment assets to buy both properties. They might have trouble buying a car, for example, if things turned against them."

After the presentation, the clients decided that the risks weren't worth it, and opted to buy one vacation home instead of two. "It was an emotional decision," says Dimitroff. "My role was to help them make the decision rationally." She also left the couple with the hope they'd be able to buy the second property at some future date if things worked out better than expected.

Besides developing some of the skills of a therapist, planning firms will need more types of behind-the-scenes expertise. "There must be technology skills within an organization," says Kochis. "If you don't keep up, you'll be at a competitive disadvantage."

Lassus agrees that some technical savvy is vital for staying in the game. "Planners' Web sites probably will go beyond the printed word," says Lassus. "We might have live video, for example, or there might be expressions for clients to click onto and hear explanations. For all of these things, it will be a matter of taking technology that's available today and using it more effectively. The ability to use technology to do basic things will mean more time for planners to add value for clients."

Planners probably will have one or more full-time technology and systems people in-house in the next few years, according to Lassus. "You don't have to be a technology expert yourself," she says, "but you must know enough to drive the process. You might, for example, have a plan to turn over at least 30% of all the systems in your practice each year, in order to be sure that you're keeping up-to-date."