Learn New Ways to Communicate

Focused on serving baby boomers? Now may be time to connect with their kids.

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Jeanie Ulicny

Why this is the perfect moment to engage younger investors.

By Jeanie Ulicny

Many successful advisors have spent the last few decades focused on serving baby boomers. And it’s no wonder: Those investors possess most of the wealth. Yet reason tells us that’s going to change dramatically over the next decade.

The transfer of boomers’ wealth is already happening, and the speed and scale are expected to increase. In fact, Cerulli Associates projects that over the next 25 years, $68 trillion will move to heirs and philanthropic causes.1

To what extent will the current crisis affect this handover? No one can say—but one thing is certain: Advisors who find a way to connect now with younger investors have a stronger chance of thriving in the years ahead. Here are a few ways to view this through the lens of the current situation.

Offer a steady hand

For investors in their early 30s—those starting to hit their stride in their careers but still looking ahead to their peak earning years—this is their first real run-in with market uncertainty.

By helping these investors navigate choppy waters and maximize their expansive earnings and investment time horizon—all while serving as a calming voice of experience—you can become an indispensable, lifelong partner in their financial journey.

Getting started

Dust off those historical charts showing how markets trend upward over time and how patient, long-term investors almost always benefit by staying focused on bigger-picture goals like retirement, owning a home, and saving for a child’s education.

Show your value

Younger investors who use robo-advisors and self-directed investing tools may be at loose ends right now. Demonstrating the value of your insights can win a loyal client for life and establish, once and for all, that there’s no substitute for human partnership.

Getting started

Reach out and offer to talk with younger investors about their personal finances and investing goals. Take a broad view of their holdings­—401(k), self-directed and robo accounts, everything—to help ensure it’s all working together to help them stay on track with those goals.

Build your digital skills

As you’re adapting your practice to social distancing measures, why not focus on investors who likely expect more digital interaction? Spending less face-to-face time and much more time connecting remotely might give you the opportunity to add scale to your investor communications and make them more effective.

Getting started

Review your current presentation materials. Are they engaging and interactive in a way that suits delivery at a distance? Will the content and pacing resonate with people with many years of earning and investing in front of them?

What about keeping a regular pulse of communication by introducing email newsletters or sending them out more frequently? This could feature a compilation of your most up-to-date thinking and writing on relevant topics.

And if you’ve avoided building out your social media presence—sharing articles on LinkedIn, delivering insights via YouTube, or blogging perspectives on your website—now may be the time to dive in and start using these important tools to connect with younger investors.

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