WASHINGTON -- As life expectancies continue to rise, investment advisors will need to fundamentally rethink the way they help clients plan for retirement and transferring wealth to the next generation, an expert on aging cautioned on Wednesday.

Laura Carstensen, a professor of psychology who directs the Stanford Center on Longevity, told an audience of advisors gathered here for Fidelity's Inside Track conference that as more people live into their 100s -- and as families in which four or even five generations overlap become commonplace -- some of the core elements of financial planning will have to change.

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