Advisors, what do you know about the 78 million members of the millennial generation (besides the fact that there’s a lot of them)? Millennials were born between 1980 and 2000, and the forefront of that generation is about to enter its prime earning years. Wayne Badorf, head of intermediary sales for Wells Fargo Asset Management and president of Wells Fargo Funds Distributor, writes in InvestmentNews about the five best ways to attract millennial clients.
From the article:
“Picture the next wave of clients. They are saddled with more debt than their parents, and they are more risk averse with their investments than mom and dad. Although they have no qualms about raiding their 401(k)s like piggy banks when they bounce from job to job, they are uber-confident about their retirement prospects.
“Meet the Millennials. For financial advisers who are lucky, these young people, the oldest of whom are in their early 30s, will choose them and their practices to manage their money and plan for their financial needs.”
Read the rest of Wayne’s take and then feel free to leave your thoughts below.