How Financial Advisors Can Woo Millennials
Millennials will become very important clients for financial advisors in coming years as they will inherent trillions of Dollars from their Baby Boomer parents. Given this, there are every once in a while articles covering how financial advisers can attract millennial clients. However, most of these focus on very straightforward and rather boring approaches, such as beefing up one's social media presence. This article gives a very practical tip-change what you wear. The piece discusses how one advisor makes sure to never meet Millennial and Baby Boomer clients on the same day because he wants to have totally separate outfits. For Millennials, rather than wearing a suit, he wears jeans, a t-shirt, and a casual sport coat, which reportedly makes the generation feel more comfortable.
FINSUM : We think this is practical and useful advice. A suit is not the sort of image an advisor wants to project to a Millennial. The generation rejects what they see as the deceit and corruption of the financial industry, and for them a suit is a sartorial embodiment of the industry.
Source: Wall Street Journal
- baby boomers
- inherited wealth
- financial advisors
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