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Advisors Need To Communicate Their Value To Younger Investors
Investors in their thirties and early forties grew up steeped in market data and are wondering why they need an advisor at all.
According to new research from Cogent, members of Generation X are less satisfied with their advisors than any of their predecessors.
Only 42% are happy with existing advisory relationships and a full 51% would be willing to switch.
The fact is that these people watched their self-directed friends capture 28% returns last year while their own accounts earned them maybe 11% -- and the difference bothers them.
Cogent theorizes that these assets are being managed as though their 30- to 45-year-old owners are actually much older, and so the portfolios are more conservative than necessary.
But it's the usual story. Younger self-directed investors are apparently getting those big returns by being overweight equities.
That's not a strategy that can outperform if stocks go south. But simply pontificating about the power of diversification isn't going to convince Generation X -- when confronted with the gap between 28% and 11% returns, advisors need to come up with hard numbers of their own.
Take that equity-rich portfolio and back-test it. How did it do in 2008-9? In 2000-2? Your younger clients remember these bear markets.
Compare those numbers to what one of your portfolios would have delivered. Maybe both lost money, but which lost least?
This is important because Generation X is not a fringe advisory demographic any more. These people have 75% of the assets, on average, as their older counterparts -- and they now account for 20% of the affluent population.
Furthermore, if the advisory business is going to outlive the Boomers, it's got to keep evolving. Cogent didn't look at Generation Y or the "millennial" generation, presumably because they're so young.
But wait until these people -- steeped in Facebook -- become prospective clients.
Questions?
How and why does the Advisor Products system work?
In today’s times, when consumers have become more demanding and tech-savvy, financial advisors must use content marketing to attract, inspire, engage, and convert their prospective customers.
A good content strategy is focused on developing and distributing consistent, valuable content to engage and retain prospective customers and target audience, via your website. Our content library provides financial advisors with fresh, high-quality financial content that is updated regularly, improving SEO along the way. And our automated e-newsletter and social media tools allow advisors to reach out to clients and prospects in an easy-to-use manner, providing frequent touch points for optimal brand building.
- Differentiate you from competitors
- Expose clients and prospects to your brand message more frequently
- Build an ongoing relationship with customers
- Increase your follows and fans on social media
- Drive more prospects to your website
- Help convert prospects into leads
- Increase number of pages indexed in Google
What products and services do you offer?
Can I buy services if my website is not hosted with you?
What can I expect during the onboarding process?
What if I have questions after my website is built?
Seeing is Believing.
See how easy it is to get started with our all-in-one digital marketing platform that drives leads, encourages referrals and increases client engagement.
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Advisor Products delivers high-quality, FINRA approved financial news articles and branded weekly financial videos published automatically to your financial advisor website. We also offer marketing tools like our easy-to-use financial blog, automated financial enewsletters, social media marketing tools to help financial advisors disseminate content quickly and easily.
Advisor Products delivers high-quality, FINRA approved financial news articles and branded weekly financial videos published automatically to your financial advisor website. We also offer marketing tools like our easy-to-use financial blog, automated financial enewsletters, social media marketing tools to help financial advisors disseminate content quickly and easily.
