As the industry's average age for advisers rises, recruiting young talent — seen by some as a wasteful expense — has become an increasingly critical investment for firms.

That was one of the main takeaways from a Financial Planning webinar on "How to recruit, onboard and retain young talent." Young planners are not only a bridge to the next generation of clients but also important to current ones as well, said presenter Jay Hummel, managing director and head of adviser training for Envestnet.

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