9 Steps to Grow Your AUM With LinkedIn. Gen Y: The Next Generation of Spenders. Empowered, disappointed, savvy, optimistic, unemployed—for anyone trying to decipher Generation Y (also known as Millennials), it means starting with a fistful of contradictions.
With a population estimated at roughly 72 million, Generation Y is the most educated, diverse, tech-proficient, and soon-to-be largest American generation ever. How Millennial Are You? Rebranding Generation X. Talking ’Bout My Generation: How to Market So Each Generation Will Buy. Warning: sprintf() [function.sprintf]: Too few arguments in /home/esource/public_html/wp-content/plugins/auto-pagination/auto-pagination-functions.php on line 96 What’s the No. 1 marketing myth today?
It’s the misperception that Tweeting and Facebook groups will increase sales immediately. Baby Boomer Versus Generation X. Many good employees are quitting traditional organizations because the older workforce does not know how to manage them properly.
I recently worked with the U.S. Army who is experiencing a severe retention problem. Highly skilled Generation X junior officers and enlisted soldiers are leaving in droves. The lure of higher paying civilian jobs is only part of the problem. According to a survey I conducted, many of these young Gen. In general, Generation X employees are those between the age of 19-34. How to Do Financial Planning for Generation X and Generation Y. Kile Lewis is the Co-founder and Co-CEO of oXYGen Financial—a full service family office offering financial services for the X and Y generations.
It was founded in response to increasing requests from successful young people — Generation X and Generation Y investors, families, and entrepreneurs — for financial planning and advice matched to their unique needs. I have been following his company for several months and was excited to hear his insights into financial planning, specifically for generations X and Y. Here you will find the video of our conversation as well as a cheat sheet of key points if you don’t have time to watch the full 25-minutes. If you’d like to watch the segments you are most interested in, the topics below are listed alongside what time they appear in the video. Infographic: Generational Differences in America 101. I’ve written a lot about the different generations, and find understanding the root of their differing behavior and corresponding attitudes to be both a fascinating topic and a valuable management tool.
As with everything in management, increasing the understanding between team members helps build positive and productive relationships. Also, with this understanding, it is easier to identify and focus on complimentary strengths, and opportunities for growth. The infographic below is specific to America. It identifies the life shaping events of each generation, how those events lead to specific characteristics, and how to speak to those characteristics as a manager. Learn the language of each generation to increase employee engagement, and help your employees grow and develop. For the first time in history, there are four generations in the workplace.
Throw the Bums (Adult Children) Out! Throw the Bums (Adult Children) Out! Capturing Affluent Clients Now. Financial Planning for Millennials - Wells Fargo Conversations. They've come of age in a distressed, turbulent economy.
One would expect Millennials, young adults between 22 and 32, to be discouraged about their financial future. But a recent survey commissioned by Wells Fargo found just the opposite: Almost three-quarters of the 1,414 Millennials polled reported feeling they are in control of their future, and 67 percent believed they will achieve a greater standard of living than their parents. That positive outlook isn't surprising — or unrealistic — observes Arne Boudewyn, Senior Vice President and Managing Director of Family Dynamics and Education with Abbot Downing, a Wells Fargo business. Millionaire Outlook. BOSTON – Fidelity Investments® today released results of its 6th Fidelity® Millionaire Outlook, an in-depth survey analyzing the investing attitudes and behaviors of millionaire householdsi.
This year’s study found that – despite being three times as likely to acknowledge that inheritance helped build their fortune – the next generation of millionaires is working hard to grow their money. Gen X/Yii millionaires have the most positive financial outlook in the history of the study and are far from sitting idle with their investments, averaging 30 trades per month. Using a scale where +100 represents the most favorable outlook, zero is neutral and -100 is the most negative outlookiii, this year’s study found that the current financial outlook of today’s Gen X/Y millionaire is +51iv, which is 58 points above his/her older counterpart (“Boomers+v”) and the highest level since the survey’s inception in 2006.
National Financial is a division of National Financial Services LLC. Will 2014 Mark the Beginning of a Generational Talent Crisis for Advisors? Will 2014 Mark the Beginning of a Generational Talent Crisis for Advisors?
This is the time of the year when we start reflecting on the year’s accomplishments and memorable events. Financial Planning for Millennials - Wells Fargo Conversations. Create Wealth, Transfer Wealth, Enjoy Life. Although the overall divorce rate in the United States has remained flat since the 1980s, one particular segment of the population — older Americans — is divorcing in record numbers.
Pulling from U.S. Census data, researchers from Ohio’s Bowling Green State University note that the number of divorces among people over age 50 has doubled over the past two decades, and the rate continues to rise. Has Financial Industry Press Over-Hyped Social Media? - Platinum Strategies. The financial industry has a tendency to blame mainstream media for hyping financial news, and yet, is guilty of the same crime where social media is concerned.
You’ve seen the headlines – Advisor Lands $90 Million Account on LinkedIn… Financial Advisors Rave About Social Media Results… Win More Referrals With Social Media – these days, it seems like every industry journal is leading with them. NextGen Is Coming. Are You Ready? - Platinum Strategies. Born in 1981, I belong to Generation Y.
I’m also an investment advisor representative and a consultant to 960 financial professionals. Because of where I personally fit in, the conversation about what the next generation wants from financial advisor relationships intrigues me. In most respects, I believe my generation wants the same things other generations want: sound advice for a reasonable price, accessibility, communication, transparency. Recruiting & Hiring: How Advisors Can Attract Millennials. The financial planning profession is finally feeling the pressure of years without an established career path. The field has lost potential new entrants to others that pay higher -- at least initially -- and many students don't even follow through on their studies to bother taking the CFP examination.
There is heavy competition for the relatively few unattached experienced advisors, mainly due to the fact that firms can assign client responsibilities to these hires immediately, without extra training, and expect them to start generating revenue immediately -- especially if they have an existing book of business. 6 Things to Know About Recruiting Gen Y. How Advisors Should Work With Younger Millionaires. Tips for Working With Gen X, Gen Y Millionaires. Boomer women more money-savvy than Gen X and Gen Y - Encore.
Gen X Has New Reason to Resent Boomers as Retirement Looks Bleak. Generation X, the unlucky cohort of Americans who became young adults during the boom years of the 1990s only to suffer a midlife bust, is facing bleak retirement prospects, according to a study. The Pew Charitable Trusts said the typical Gen X couple, born between 1966 and 1975, only has enough savings to replace half of its pre-retirement earnings. Married Americans born during the first part of the baby boom, from 1946 to 1955, can expect to retire with about 82 percent of their income. The younger boomers, born between 1956 and 1964, can expect to quit work and make about 59 percent of pre-retirement earnings. The report, released yesterday, comes as the 76 million-member baby boom generation is beginning to retire, while working-age adults are confronting potential shortfalls in government-sponsored retirement and health-care programs.
Financial planners recommend that retiring Americans be able to replace 70 to 100 percent of pre-retirement income through wealth and savings. Marketing Financial Advisor Services To Millennials. Marketing Financial Advisor Services To Millennials. Millennials Are Changing the Rules of Investing. Younger Generations’ Approach to Investing. Gen X, Y found to be hands-on investors. FINANCIAL ADVISOR INSIGHTS: September 3. What HNWs Demand of Advisors: Stay Connected, Stay Mobile. High-net-worth clients demanding transparency, choice and convenience are driving a “revolution of digital commerce and direct-distribution” in wealth management, according to a report released in August by PricewaterhouseCoopers. PwC noted that in addition to privacy and regulatory concerns, firm culture is also sometimes a hindrance to implementing new technology. “Wealth managers should reimagine their businesses through digital technology by adopting a relentlessly experiential view of their enterprise,” the report suggested.