How the 401(k) industry can help attract young advisers
Training advisers to be financial coaches or mentors is more appealing to the younger generation. Rather than cold-calling or selling insurance or high-priced annuities, these younger advisers would be contacting 'clients' of their firm with the blessing, and fiduciary oversight, of their employer.
The financial service industry is facing a crisis. Advisers are getting older, and there is a dwindling number of young advisers to take their place. The cause of the problem is obvious, as is the solution.
Traditionally, advisers were trained by insurance companies and wirehouses that cast their
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