This highlights the distinct generational and life stage differences that
influence demand for financial consultation. Younger generations are less
financially experienced and therefore are motivated to seek financial help when
confronted with life stage changes, like marriage, children, taking out a loan, or buying
a house. Older generations are facing different life hurdles and milestones that
require financial assistance, like retirement and illness. Generation and life stage play
a major role in the anticipation of and need for financial assistance.
Strategy to Consider
Do you know the current life milestones of each client you serve? What about their
primary family members? Have you spoken with clients about these milestones and
how your investment advice aligns to these and supports their long-term goals?
Opportunity: Analyze your client milestones to identify those who might have a
significant life event in the next two years. Proactively reach out to these clients to
help them craft a financial plan to help make the milestone a smooth transition.
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