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Advisor Insights

A Checklist for Developing a NextGen Offering

Here are the steps to take provide solutions for the younger generation investor.

By Helen Modly, CFP, CPWA, and Tiffiny Dimel, CRP

Expanding traditional wealth management services to attract younger generations is a hot topic today. Identifying what they want, how to reach them, how to service them, and even how to text them is proving to be a challenge for firms built on serving baby boomers with a traditional assets under management model. They are early accumulators, so most don't have the investable assets necessary to meet many firms' thresholds. How can advisors develop a new business model to serve this demographic?