10.21.24

Younger Clients Want More Investment Product Options

by: Karen DeMasters

The future success of financial firms rests on hiring the right talent to handle new products for a younger clients, according to a new survey by the Money Management Institute (MMI) and Broadridge Financial Solutions. The survey of 175 MMI members found that nearly three-quarters of wealth managers called on asset managers to invest more in product specialists in the new survey, up from 38% in 2023. Some 60% of asset managers said they plan to make this investment, with a primary focus on adding specialists for alternative investments, private markets and non-traditional products.

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