Millennials

With fewer associate training programs, young bank advisers need to take the initiative to find a mentor and cultivate referrals.

The microinvesting site, which now has over 2 million accounts, allied itself with Clarity Money.

The most important consideration is that clients are able to complete the 35-year work period because benefits are based on the 35 highest-paid years from their careers.

Demand from millennials has helped the strategy become an $8 trillion category.

The app allows users, many of them first-time investors, to get started for as little as $5.

"Everything people thought was cool in 2014 is table stakes in 2017," said Kendra Thompson, head of Accenture’s global wealth management practice.

Although traditional IRAs offer upfront tax deductions, clients will have to pay taxes later in life when they likely will be in a higher tax bracket.

Popular microinvesting apps targeting novice investors are charging total fees well in excess of other options, says an industry observer.

Taking a 20-year outlook is the best way to make gains, says Lipper number cruncher Tom Roseen.

Behavioral economics, essentially a combination of economics and psychology, is tailor-made to help straighten irrational decisions when it comes to portfolio construction.