Results for "next gen"

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Tools for legacy planning to help clients — and hold on to their inheritors

August 10, 2015

Advisers looking to retain control of assets as they are passed down to future generations should consider reaching out to clients now to help them plan their legacy. Working with clients to share values with heirs, as well as instructing those...

Advisers should embrace the digital age and its impact on financial advice

August 10, 2015

HitchBOT, the digital hitchhiking robot, met a sad end last week. While he was more experiment than trend, he serves as a representation of people's hesitance to trust robots to have our best interests in mind. This ambivalence toward robots...

Help clients kick kids out of the house without feeling guilty

August 7, 2015

Financial advisers can strengthen their relationships with clients by helping them get the millennials in their lives out of their homes. Having an adult child move back home temporarily can be a bonding experience between parent and child....

Are millennials as risk-averse as they're made out to be?

July 31, 2015

Millennials have been thought to behave more conservatively when it comes to their finances than older generations. But new data has revealed millennials have surprisingly similar levels of risk tolerance to older people. And while some do shy...

Young advisers want a future, not handouts

July 26, 2015

Eric Roberge dedicated three years to helping an adviser develop a business he expected to take over one day. He quit, though, when the adviser offered him a handshake promise instead of a written succession plan that spelled out his future...

Reality of the robo invasion isn't what advisers think

July 22, 2015

It is almost impossible for advisers to go through a day without hearing how robo-advisers are shaking the foundation of their industry — and changing how their clients get financial advice. According to much of the industry commentary and...

Contrary to conventional wisdom, young investors do want to work with advisers

July 15, 2015

It's often assumed that financial advisers should, and do, devote most of their attention to older, established clients. That's where the assets are. Recent research suggests, however, that advisers would do well to seek and serve younger clients...

How advisers can get Gen Yers to take some risk

July 6, 2015

Generation Y (age 18-34) is very concerned about the future of Social Security and has a strong desire for other sources of guaranteed income, such as annuities, to provide secure monthly income in retirement. That's according to a new study...

Automated advisers attract much smaller clients than humans: Morningstar

June 25, 2015

Robo-advisers may not be able to compete with humans after all — at least when it comes to attracting clients with a greater amount of investible assets. Largely automated online financial advice platforms are able to bring in clients with...

Breaking down the best robos for your practice

June 25, 2015

There's a lot to consider when managing a financial advisory practice, but one of the more ever-present components of the business these days is whether to offer an automated online investment platform. Robo-proofing a practice is one of the...

When it comes to retirement savings, millennials blow past boomers

June 22, 2015

In addition to being more technologically savvy and more in tune with social media, the millennial generation, in general, is also better than the baby-boomer generation at preparing for retirement. Within this broad statement — and the data...

Wealthy millennials decline financial advisers' services: survey

May 28, 2015

More than half the wealthiest young Americans do not use financial advisers, according to a survey released Thursday, and wealth managers may be missing opportunities to discuss health, family and financial values with those and other potential...

The advice industry's age discrimination problem

May 13, 2015

The investment industry has an age discrimination problem, and millennials and Generation X are bearing the brunt of it. Only 30% of financial advisers are actively looking for clients under age 40, according to a survey of 500 advisers by the...

Millennials are saving but their fear of stocks could hurt them

April 21, 2015

Millennials might be saving more than older folks but they are also the age group that will have the biggest retirement savings burden in history because of their aversion to risk. BankRate.com's financial security survey found that although...

Millennials to financial advisers: #DoingitWrong

April 13, 2015

As a millennial who works in the financial services industry, I can tell you with complete certainty that financial advisers need to comprehensively change their business models and practices if they want to gain and hold individuals in my generation...

Advisers flub in talking about wealth transfer

April 9, 2015

The majority of financial advisers are missing the boat when it comes to having important conversations with clients about passing wealth on to the next generation — thereby losing a big opportunity to hold onto those assets after those clients...

Young advisers need help developing 'soft skills' for serving clients

April 5, 2015

Daniel Mock, 24, is highly educated, graduating college with a double major in economics and political science. He later added a master's degree in quantitative economics. But when he started his career as an associate adviser with FMB Wealth...

Millennials don't feel like top priorities for advisers

April 2, 2015

Young investors, with little money stored away for investing, don't think advisers consider them a top priority. Given the assets-under-management mentality of many financial advisers, that sentiment should not be a big surprise. But by setting...

First and foremost, it's not about the money

March 29, 2015

A little more than a year ago, I was calling everyone in finance I had ever met. I was drilling them with questions ranging from “How is the work-life balance?” to “How long do I have to wait to find out if I'm good at it?” Over the...

For Kelly McNerney, ordering priorities in a busy schedule is a challenge

March 29, 2015

The rigors of working full-time surprised Kelly McNerney, who moved to Virginia from New Jersey last May to become an associate financial planner at FJY Financial. Ms. McNerney, 22, always took a full course load at William Patterson University...

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