12.08.21
With Millennials Poised to Inherit $68 Trillion, Financial Advisors Can Take These Steps to Attract Younger Clients
by: Lorie Konish
With millennials about to inherit $68 trillion from baby boomers, speakers at the CNBC Financial Advisor Summit said financial advisors can foster relationships with younger investors. The Nationwide Retirement Institute's Kristi Rodriguez said disruptive events like Covid have made millennials more willing to work with advisors to mitigate risk and plan for retirement. Betterment General Manager Jon Mauney said offering more flexible options rather than a one-size-fits-all percentage of assets under management fee structure should appeal to millennials. Rodriguez said this generation is also more comfortable with advisors whom they feel are trying to see the world from their point of view. She added that millennials also prefer advisor teams that are diverse in terms of age, ethnicity and socioeconomic backgrounds.
Read the full article on CNBC