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Why You Shouldn’t Hire Your Parents’ Financial Advisor © (Getty Images) Two business women at the cafe restaurant discussing during coffee break Millennials and Generation Xers who need advice on retirement and tax planning should conduct research before choosing a financial advisor and not hire the one who worked with their parents. The financial goals of Gen X and Gen Y do not always mirror what their parents faced, says Michael Solari, principal of Solari Financial Planning in Bedford, New Hampshire. Both generations are dealing with larger amounts of debt while also saving money for a down payment to buy their first home and accumulating money for retirement.

United statesNew hampshireCharles sizemoreDaren blonskiAlex chalekianMichael solariPhillip ramseyJoshua austin scheinkerGen xersPew research centerGetty imagesGeneration xersSolari financial planningYounger clientsLake avenue financialNew fee structures