The ClientWise Blog

How to Better Leverage Millennial Financial Advisors

Posted by Ray Sclafani on Sep 17, 2015 3:18:09 PM

 

You’re most likely familiar with the oft-discussed Japanese business concept of Kaizen. Derived from the words“kai” which means change and “zen” which means good, the concept of Kaizen is rooted in the idea that big results come from many small changes accumulated over time. And it necessitates that everyone (especially leaders) must strive to continuously improve.

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ClientWise is the premier financial advisor coach focused on business development and management best practices for financial advisors.

Topics: Innovation, Learning, Millennials

Why Should You Worry About Generational Wealth?

Posted by Ray Sclafani on Sep 10, 2015 4:53:00 PM

I’m not sure how or when it happened, but my penchant for bands like the Red Hot Chili Peppers and FooFighters is now met with a somewhat dismissive head shake and a barely audible sigh from my college-aged son – a signal of my clearly misguided musical appreciation. Come to think of it, it’s the exact same reaction I had 30 years ago as the songs of Tony Bennett and Dean Martin slowly tortured me.

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ClientWise is the premier financial advisor coach focused on business development and management best practices for financial advisors.

Topics: Trust, Relationship Management, Millennials

7 Smart Tips for Leading & Working with Millennial Financial Advisors

Posted by Alix Purcell on Dec 10, 2014 1:50:00 PM

As the leader of a successful financial advisory team your greatest asset is your human capital. And if you’re looking to increase the sustainability of your business it might be wise to look into hiring a younger generation of advisors to help grow and prepare your team for the future. Millennial financial advisors hold incredible knowledge and first-hand experience regarding the new generation of investors and approaches to their financial planning. Their relationship management skills are beneficial in connecting with the heirs of your clients’ wealth. 


Millennials are also an asset because they bring a very different kind of thinking to the table; born from involved parents, incredible access to information, and the perspective that anything’s possible. While a more seasoned advisor may find it difficult to bridge the gap between his or her mindset and that of the younger generation, it’s worth it to invest in their growth to ultimately help the sustainability and succession planning of your practice. The tips below will guide your thinking as you begin to grow your financial advisory team and welcome these nextgen financial advisors:

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ClientWise is the premier financial advisor coach focused on business development and management best practices for financial advisors.

Topics: Business and Operations Management, Team Development, Millennials

Gen X Listen Up! 6 Strategies to Team Successfully with Gen Y Financial Advisors

Posted by Alix Purcell on Oct 30, 2014 11:00:00 AM

The Million Dollar Question: How do you get legacy wealth and business into the hands of younger financial advisors with ease? Of course, “with ease” is the key phrase here. While it seems like an obvious choice, the process of passing off business from an aging advisor planning to retire to a younger, less experienced advisor is never easy for either side. The path to partnership and team building between these two entities can be made smoother by careful attention to the following, but it needs to start well before succession begins and be present throughout the creation of the business:

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ClientWise is the premier financial advisor coach focused on business development and management best practices for financial advisors.

Topics: Business and Operations Management, Team Development, Change, Succession Planning, Millennials

7 Key Issues for NextGen Financial Advisors

Posted by Alix Purcell on Oct 28, 2014 10:00:00 AM

It’s no secret that financial advisors under 30 bring a lot to the table when it comes to wealth management. Everything from their tech-savvy solutions, to their ability to connect on a very different level with younger investors make them valuable assets. But in what specific areas should they use these skills, and where should they focus their attention to speak to what the next generation of investors is looking for? We asked a panel of young, rising star advisors at a recent conference and here were their insights:

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ClientWise is the premier financial advisor coach focused on business development and management best practices for financial advisors.

Topics: Business and Operations Management, Team Development, Succession Planning, Millennials

A Key Ingredient in Financial Advisors’ Marketing to Millennials

Posted by Chris Holman on Mar 11, 2014 11:06:00 AM

Trust is a key factor in any sales relationship. Clients don’t buy from people (or entities) that they don't trust.

For financial advisors who aspire to market to Millennials, the trust factor is even more relevant. In a recent Pew Research study, the different generations were asked this question:

 

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ClientWise is the premier financial advisor coach focused on business development and management best practices for financial advisors.

Topics: Trust, Millennials

How Millennials Can Save the Financial Services Industry

Posted by Chris Holman on Mar 6, 2014 9:53:00 AM

Much has been written about the “graying” of the financial services industry:


The median age of the 300,000+ financial advisors in the USA is about 50.

21% of advisors are 60+ in years.

Just 5% of advisors are younger than 30.

Financial advisors who are 60+ years old control $2,300,000,000,000 in client assets.

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ClientWise is the premier financial advisor coach focused on business development and management best practices for financial advisors.

Topics: Leadership, Innovation, Change, Millennials

Financial Advisors: Dump Your Assumptions About Millennials!

Posted by Chris Holman on Jan 17, 2014 8:47:00 AM

Talk about your Generation Gap! There’s a pretty big one when you look at the demographic bands of the financial advisor community.

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ClientWise is the premier financial advisor coach focused on business development and management best practices for financial advisors.

Topics: Learning, Millennials

Connecting with potential Gen Y Clients: Two Views

Posted by Chris Holman on Oct 9, 2012 11:08:00 AM

For a variety of reasons, the financial advisor workforce is getting older. Although there are a number of important implications to this trend, one widely-held view is that senior advisors will not be able to attract and engage the younger Gen Y investor with their marketing...by virtue of an unbridgeable generation gap.

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ClientWise is the premier financial advisor coach focused on business development and management best practices for financial advisors.

Topics: Client Acquisition, Marketing Approach, Business Development, Millennials

"Talkin' 'bout my generation..."

Posted by Chris Holman on Apr 5, 2011 10:26:00 AM

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ClientWise is the premier financial advisor coach focused on business development and management best practices for financial advisors.

Topics: Client Engagement, Millennials

Generation Gap

Posted by Chris Holman on Jul 1, 2010 2:09:00 PM

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ClientWise is the premier financial advisor coach focused on business development and management best practices for financial advisors.

Topics: Team Development, Millennials