Segmenting the Millennial Market Is Key for Advisor Opportunity

By Miss Pohlig via

In December 2016, the SEI Advisor Network surveyed over 600 millennial investors, aged 21-35, with minimum investable assets of $10,000, to find out how the financial services industry should perceive and plan for this next generation of investors. While there are many other studies out there with conflicting data and conclusions about millennials – What sets SEI’s research apart is that we’re combining our own quantitative data with my own qualitative, millennial opinion to bring you more authentic and meaningful conclusions about what it all truly means. This is part 1 of a 4-part blog series on the key findings.

If you’re serious about understanding or serving millennials, it’s critical that you have the ability to filter this group to identify the ones who are actually good prospective clients. I would (obviously) advocate that financial advisors pay closer attention to Gen Y; but candidly, there will be many millennials who aren’t worth the time or effort. (This is true for small account, mass affluent clients in any age generation, though).

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