Legacy Financial says that baby boomers prefer advisors more their own age. It seems that baby boomers feel more comfortable taking advice from their age peers than from young whippersnappers. So at least says Legacy Financial Advisors, which is recruiting candidates in their 50s and 60s for second careers as financial planners.

Think twice

"Mature career changers draw from professional and business experience and have lived life's passages -- aging, supporting college-age children, caring for aging parents and making their own retirement lifestyle decisions," says Legacy's CEO Paul Mauro. "To our clients, a Ph.D. in life is more valuable than an M.B.A."

Milford, Mass.-based Legacy requires aspiring advisors to complete coursework and exams to become either a Chartered Financial Consultant (ChFC) or Certified Financial Planner (CFP). The American College offers an advanced degree as a ChFC. Courses are available on a self-study basis, online or at its campus in Bryn Mawr, Pa. CFPs meet the requirements of the Certified Financial Planner Board of Standards in Denver, Colo.

Before starting, Mauro suggests that prospective planners ask themselves whether they are willing to do the course work and throw themselves back into the networking fray again. He also figures people are better off joining a firm first and then chasing the credentials.

In addition to its headquarters in Milford, Legacy has offices in Waltham, Yarmouth Port, Natick, Peabody, and Braintree, Mass. Other Legacy representatives are located in Rhode Island, Maine, New Jersey, New York, Pennsylvania, Florida and Texas. -FWR

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