October 23, 2023 / by Don Connelly / Marketing Yourself / 0 comments
Financial advisors with any ambitions of growing their practices in the next couple of decades can’t ignore the emergence of Gen Z as an economic force. Though the estimated $143 billion in assets held by Gen Z is dwarfed by the trillions held by millennials, Gen Z workers are expected to outearn millennials as soon as 2030. They will be more educated and more ambitious than their generational predecessors, and they will be starving for financial advice.
The challenge for financial advisors is that while even today, the members of Gen Z are looking for financial advice, most prefer to find it through social media, the internet, and their parents or friends, according to the FINRA Investor Education Foundation.
The good news for advisors is that the same study found that 71% of Gen Z investors are receptive to working with financial professionals, counting them among the most trustworthy sources of financial information, second only to their parents.
The critical issue for any financial advisor hoping to attract young clients is whether they are perceived as someone who can be trusted to serve them in the manner they expect.
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How to Attract Emerging Affluent Gen Z and Young Millennials in their 20s
October 23, 2023 / by Don Connelly / Marketing Yourself / 0 comments
Financial advisors with any ambitions of growing their practices in the next couple of decades can’t ignore the emergence of Gen Z as an economic force. Though the estimated $143 billion in assets held by Gen Z is dwarfed by the trillions held by millennials, Gen Z workers are expected to outearn millennials as soon as 2030. They will be more educated and more ambitious than their generational predecessors, and they will be starving for financial advice.
The challenge for financial advisors is that while even today, the members of Gen Z are looking for financial advice, most prefer to find it through social media, the internet, and their parents or friends, according to the FINRA Investor Education Foundation.
The good news for advisors is that the same study found that 71% of Gen Z investors are receptive to working with financial professionals, counting them among the most trustworthy sources of financial information, second only to their parents.
The critical issue for any financial advisor hoping to attract young clients is whether they are perceived as someone who can be trusted to serve them in the manner they expect.
Read more
The First Client Meeting: Are You Making Any of These 10 Common Mistakes?
March 11, 2019 / by Don Connelly / Managing the Relationship, Prospecting / 0 comments
It’s all too easy to slip up in the first meeting and lose any opportunity to open the account – and this is especially true for new advisors.
In this post we’ll help you identify mistakes you could, without realizing it, be making. Take an honest appraisal – do you recognize yourself doing any of the following? If so, take action to fix these mistakes.
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3 Types of Clients You Should Want to Attract and Retain
April 2, 2018 / by Don Connelly / Prospecting / 0 comments
It’s surprising to find that certain broad sectors of the population still remain underserved in certain instances.
If you, unlike other advisors, can devise a strategy to attract and retain these potentially valuable clients, you could vastly improve your business.
Let’s have a look at three types of clients you should try to attract and retain.
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Never Forget that Clients and Prospects Are Real People with Real Concerns
September 5, 2016 / by Don Connelly / Managing the Relationship / 0 comments
Clients and prospects are real people so the best way to reach out to them and win them over is to appeal to their humanity – not wow them with financial jargon.
People won’t warm to you simply because you know your way around the stock market. Your prospects and clients make their decisions based on whether they like you and trust you – not on your ability to make the numbers add up. People overwhelmingly tend to make decisions based on emotions rather than on hard rational thinking. So put away your graphs, numbers, pie charts and statistics and convince people to trust you rather than the numbers.
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