Advisors need to repackage their service offering and translate it into the language of Gen X and Gen Z.
What are the takeaways?
- The industry has spent far too much time throwing statistics at advisors, and not enough time actually teaching them HOW to attract the next generation of clients. (Hint: it’s NOT by having an Instagram account).
- Yes, Gen Y is important, but we’ve forgotten about Gen X: the 40 something’s who grew up as latch key kids and need planning the most.
- Make the decision to either continue to build a lifestyle practice and ignore this, or build a multi-gen enterprise. If you want the latter, start by auditing and changing all of your marketing messaging.