SAN DIEGO – Adapting to a changing client universe is critical for advisors, says TD Ameritrade Institutional president Tom Nally.

The wealth shift to the echo boomer generation presents big opportunities: The wealth accumulated by Generations X and Y will increase to $28 trillion by 2018 from $2 trillion in 2011, he said Thursday morning in a keynote at the company’s big annual advisor conference.

But planners will need to adapt for a new client base, he argued, citing a study that found 86% of younger investors said they’d fire their parents’ advisors. Advisors will need to upgrade their technology, embrace social media and bring in younger team members.

For more : Time to Hire Younger Advisors, Says TD Ameritrade s Nally | On Wall Street.