Millennials are here. They want to save for retirement. And they're looking for guidance. Next Generation Thinking will help you take them further.
Explore Strategies That You Can Use
With Sponsors to Motivate Millennials:
Help millennials overcome a risk-adverse mindset.
Supplement traditional marketing with innovative communication techniques.
Millennials Don't Think Like Boomers.
It's Time to Get Up to Speed.
1. The future of your practice is at stake
Up to now, you have structured your practice to serve a demographic—the baby boomers—that is exiting the workforce. If you continue to rely on a business strategy built on an aging generation, you run the risk of failing to remain competitive. Millennials save, invest, and behave in vastly different ways than their baby boomer predecessors. You will need to change your strategy and tactics to successfully engage them.
2. The defined contribution plan is more important than ever
For many in the boomer demographic, the defined contribution (DC) plan has served a supporting role—helping to supplement both a pension system that is slowly disappearing and a more tenuous Social Security system. For millennials, the DC plan will provide them with their primary source of retirement income. Advisors owe it to their clients to optimize plan design, investment menus, and employee engagement strategies. Sponsors and participants are depending on you more than ever before.