ETF Trends
ETF Trends

Note: This article is courtesy of Iris.xyz

By Dr. Sonu Varghese

A lot of advisors talk about the desire to bring on next-generation clients. What’s fascinating is that the discussion almost always focuses on how to manage the relationship after a parent dies.

Investment News recently reported that 66% of adult children fire their parents’ advisor after receiving an inheritance. And while that statistic does illustrate the problem, when it comes to attracting Millennials in the first place, it may be best to begin where this younger generation is at the moment: at the beginning.

The fact is, few Millennials have significant assets to invest—yet. Although the oldest of the group are busy celebrating their 35th birthdays, 26% of Millennials are still living with their parents according to Pew Research Center. The reasons are many, from a highly competitive job market to unprecedented student debt.