Don Sr., meanwhile, had dreamed of such a partnership, but he took a hands-off approach when it came to his son's career path. Yet, when his son sought a place in his business, Don Sr. made an effort not to lay out too rosy a path for him. "I always taught my children to be able to think for themselves," he says. "I wanted him not to look at me as a parent, but to look at me as a boss."
Don Sr. of course did get back to his son. When he did, he had a long talk with him about the business, the industry in general and the fact that his son still had a lot to learn after he graduated. What he suggested was that his son get a taste of the industry by first working for a large firm. Don Jr. followed the advice, and spent the next year working at Principal Financial Group in Media, Pa., before finally joining his father's firm seven years ago. "Every night when he came home from work, for a whole year, we'd go over everything he learned that day," Don Sr. says.
Talking about things came easy to the father and son because they were also close friends. Don Sr. coached his son's baseball team for 14 years. Don Jr. often turned to his father for advice. "In any industry, it's hard to find someone you can have 100 percent trust in," Don Jr. says.