When looking at this issue by generation, Boomers (77%) are concerned about the
security of their financial data; and for Gen X, the number is almost as high at 75%.
Younger generations are less concerned about data security but only marginally so
with 70% of Younger Millennials are concerned about the security of their financial
data. Ensuring data security is top of mind will better prepare advisors to think
strategically about the technology they choose and how to navigate those sensitive
conversations with clients in the future.
Strategy to Consider
Have you spoken with your clients about the financial data security measures in place
to protect them, their identity, and their data? Do you regularly share best practices
to help them prevent phishing or identity theft while recommending two-factor
identification?
Opportunity: Consider reminding all clients about the actions you would not take
without directly speaking with them. This might include asking for access to their
accounts, requesting personally identifiable information, or other communication
that they should know would not be requested in any way except directly from you or
your team.
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