In fact, I find working with younger generations to be especially rewarding. While their planning scenarios aren't likely to challenge the depth of an advisor's knowledge, the breadth of the work is. Unlike a wealthy retiree, a young couple with 2.5 kids, a yellow Labrador retriever and a white picket fence is quite desperately in need of counsel across the planning spectrum—cash flow, net worth, education planning, tax planning, investment and insurance planning, retirement and estate planning.
And also unlike the "A" client, whose situation our work may improve from very good to very very good, solid planning early can have a compounding benefit over the lifetime of a younger client. Such work offers a personal reward untouched in the realm of the ultra-affluent.
Read More'Broker' is not a dirty word
3. Patience = profit: Lastly, patience will lead to profit. Let's be honest: The real reason advisors don't want to work with younger clients is because there isn't enough money in it. The only way to make a noticeable profit with young folks is to sell them a disability-income insurance policy they don't want or a whole-life insurance policy they don't need. Fee-based and fee-only planners, however, simply struggle to justify working with younger clients because there's not much profit in it. But there will be.