RIAs grapple with a rising threat to retirement: Adult kids that move back in with mom and dad
Charging rent and creating a chore list are two ways of keeping mooching grown kids from getting too comfortable back in the nest
Elmer Rich III
The whole dynamic of family structure is a good one that is having immediate impact on all wealth holders — and advisors themselves. Demographics is all about these subtle but powerful forces at different life-stages.
Professionals need to tread carefully when crossing the boundary from financial matters into family therapy matters and advice. There are professionals who do that — it is a very touchy area. Some firm should fund study of these matters. It could be a good marketing differentiators.
Ultimately, it seems best to set and defend clear boundaries — but we would like to see the research on that from professional family therapists.
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TD Ameritrade
Asset Custodian
Top Executive: Tom Nally
