Connecting with Gen D: Attracting, engaging, and retaining the next generation of investors (Investing- Accenture)
Generation D (Gen D). These investors are not differentiated by their age but rather by their broad adoption of technology, especially their deeply ingrained use of digital and social channels in almost every aspect of their lives.
While Gen D investors are skeptical toward financial advisors (FAs), wealth and asset managers can secure their foothold with this group by integrating digital communications into their relationships.
Generation D: An emerging and important investor segment (Investing- Accenture)
Clearly Gen D investors—particularly the Millennials—represent a large and viable market segment for financial services firms.
There are serious gaps in the strength of FIs investor relationships with these Gen D investors.
Financial advisors tend to overestimate investor knowledge
Financial advisors misunderstand their clients’ investment style, believing clients more aggressive and less risk averse than they really are.
Listen to your future, Or it won’t listen to you (Investing – BNY Mellon)
Millennials are more than twice as likely to turn to their parents (52%) for financial advice than the next most popular source, their bank (24%).
Less than 1% of Millennials want financial services providers to connect with them through social media.
59% of Millennials believe they haven’t seen products targeted at people like them.
Millennials are wildly optimistic that they will have sufficient income in retirement, despite being realistic that they cannot rely solely on government and employer contributions.
Today’s retirement savings products do little or nothing to overcome Millennials’ short and medium-term focus when it comes to savings, while the vast majority would save more for retirement if they felt they would be rewarded.