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Financial Education & Millennials – Laying the foundations for potential clients

BY Niall Auburn, Marketing Specialist - CRM Wealth Manager

Millennials are a trending topic for Financial Advisors – for good reason. They are slated to become the biggest demographic in history and hold the keys to tomorrow’s wealth. Yet while millennials are set to succeed in the workforce, with the highest levels of educational attainment ever, a recent study published by the National Endowment of Financial Education and George Washington University found they lacked financial capability. Only eight percent of surveyed millennials showed high levels of financial knowledge, while just a quarter (24 percent) demonstrated a basic understanding of how to manage their money.

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5 Strategies for Engaging Millennial Investors

BY John Easton, Director of Wealth Management

5 Strategies for Engaging Millennial Investors

A radically diverse, globalized and digitally connected generation, millennials are set to take the stage. They already make up almost half the US workforce and will soon hit peak earning potential. Over the next 30 years, they’ll inherit 30 trillion dollars from their baby boomer parents.

The growing clout of the millennial investor represents a huge challenge for financial advisors and companies, at risk of serious disruption. Research shows millennial investors are conservative with their money, don’t trust financial institutions, and are turning by the millions to robo-advisors — now a 55 to 60 billion dollar industry. According to a 2014 report by UBS, just 14 percent of surveyed millennials said they would consult a financial advisor on a major decision, as opposed to 40 percent of non-millennials.

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