Millennials: A Generation Receptive to Financial Guidance.

• Date: 28 January 2019
• Author: Fitzgerald, Joseph B.

While any advisor would be excited to acquire his or her next high net-worth client, too often the search for high-earners means an advisor might miss out on an opportunity to cultivate relationships and work with younger generations.

Advisors should keep millennials, ages 22 to 37, top of mind as they acquire clients. The generation is driven and perceptive, and while they may not be high net-worth today or tomorrow, millennials are seeking upward mobility and they want advice on how to achieve success. In fact, as smart and tech savvy as they are, millennials are incredibly receptive to guidance, and they see the value of working with an advisor early on in their financial journey.

Millennials frequently use online software, free online tools, and mobile banking apps to manage their finances, but what may come as a surprise to some advisors is that a large percentage are also looking for a human touch. A recent Guardian study, "Millennials and Money: Understanding What...