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Future-Proofing Your Business: The Next Generation of Advice

Julie Willoughby and Syl Flood discuss how advisors can reach the next generation of investors.

Joining them are guests Chanelle Pattinson, a Chartered Financial Planner and cofounder of Money Means, a financial planning subscription platform, and Ollie Smith, the senior editor of Morningstar’s European editorial team.


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In This Episode, You’ll Hear...

0:28 – Opportunities for the Next Generation of Advice

Chanelle is passionate about understanding the next generation of investors. Many don’t know what financial planning is. When they go online, the information they find is overwhelming. Some might consider reaching out to a financial planner but struggle to relate to traditional brands or processes.

Despite these challenges, Chanelle believes that younger investors need a financial advisor who can provide reassurance and guidance.

5:17 – Insights From Chanelle’s Personal Research

Chanelle interviewed 100 individuals aged 24-45 about what they want from financial planning. Some interesting findings include:

• Only 5% wanted face-to-face meetings.

• About 95% preferred an informal meeting setting. (When Chanelle dressed casually and conducted meetings over Zoom, people felt at ease and opened up in conversations.)

• When asked what they were looking for from a financial planning firm, the word that came up most often was “relatability.”

10:14 – Simplifying Complex Information for the Next Generation

Advisors must find the balance between sharing enough information and overwhelming the client. Chanelle suggests that advisors eliminate jargon from their vocabulary. Instead, they should keep things simple and use real-life examples to better communicate with younger investors. Ollie wants to remove the stigma of shame from the question, “do you know what that means?”

15:20 – Welcoming the Next Generation of Advisors

Ollie believes Chanelle and her peers bring a refreshing perspective to financial planning. He says the industry should be careful to retain talented young advisors. Chanelle feels lucky that she got her start working with her father, who supported her creative efforts to engage clients.

22:33 – The Face Behind the Business – Social Media Tips

Chanelle’s social media goal was to make financial advice accessible. Even though her educational posts did well, she soon found that the “human part” of her social media attracted more clients. For example, posts with her dog and family received the most likes and connected most with her audience.

She realized that younger investors want to meet the face behind the business. By humanizing her social media presence, she could build relationships and trust with clients in a meaningful way.

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