To better understand the future of the financial advisory business, I visited William Paterson University in Wayne, N.J., which created a financial planning program in late 2008, to speak with students and recent graduates who will become the future of the profession.

Younger planners foresee RIAs booming and perceive fundamental flaws within the wirehouse model. They see advisors making big mistakes with next generation clients. They have fears about the future of the industry along with some ideas on how society should change to create a more financially secure world.

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