As Richard R. Lee Jr. sees it, attracting a big chunk of money to manage isn't a key sign of success, even though his Dallas firm handles roughly $1 billion for its clients. In Lee's opinion, planners should focus as much on planning as on managing money.

Lee has a record of disregarding sacred cows in a four-decade career that reads like a history - and running critique - of the financial planning profession. His approach has paid off well.

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