Next gen advisers finding their niche in the industry

Each of the six next-generation advisers InvestmentNews has followed over the past year — their first in the financial advice business — is finding his or her own focus in this changing industry. One is circumventing a traditional adviser career path and heading his firm's efforts to create a digital advice service for young investors and those with smaller accounts. The days of seeking out only wealthy investors are over, he says. Half of these 20-something professionals took the certified financial planner exam last week, while the rest are pursuing other designations. One is considering the chartered financial analyst mark. Making time to study for the CFP and other securities examinations has been a struggle for the budding advisers. They sometimes feel overwhelmed by competing priorities, and most are trying to figure out their appropriate work-life balance. On a personal level, the group has had an exciting year, with two getting engaged and another excited to learn his wife is pregnant with their second child. These next-generation advisers have lots of guidance for those coming up behind them in the business, including to ask questions, take constructive criticism and accept that you'll make mistakes. Read their stories beginning on Page 10 and find them online in blogs and video hangouts at InvestmentNews.com/YearOne.