I’m a bit horrified by what I hear from younger advisors today. They say they want to take the next step in their firm’s evolution. They say they want to bring financial planning to the blue ocean of younger, not-yet-wealthy individuals who were, ironically, the same type of people that their firm’s founder worked with in the early days. They want to implement robo advisor technology and change their company’s fee structure from the old AUM model to something that matches, with more precision, the fee charged for services.

But that’s not what I’m horrified by. I’m horrified by what happens when they propose these ideas to their firm’s founding planner. Too often the answer is a variation of: You can make all those changes after I retire.

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