How a culture survives when a start-up merges with an incumbent

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<abstract displayLabel="Summary">LearnVest, a seven-year-old start-up once praised by the New York Times as "among the first to crack the code, using both technology and certified financial planners" to make goldstandard financial-planning services "accessible to millions of Americans," was acquired not long ago by Northwestern Mutual, a venerable insurance company more than a century old. LearnVest founder and CEO Alexa Von Tobel recently talked with McKinsey's BarrSeitz about the challenges and opportunities in merging two such seemingly disparate corporate cultures. The following is an edited transcript of the conversation.</abstract>
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