3 Millennial Perspectives Financial Advisors Need to Know

It was never a competition per se, but there are now more millennials (defined as people born from 1981 to 1997) than baby boomers alive in the United States as reported by the Pew Research Center.

The term millennials may conjure images of young whipper snappers, but in fact, there is now a significant subset that has more than 10 years of working experience. This means there are millennials with investment potential and in need of financial advice and risk assessment to reach their goals. To position your investment firm to serve millennials, there are three perspectives that you need to know:

Burden of student loans
The majority of college graduates leave campus with a hefty loan balance…

Focus on shorter-term financial goals
Many are not yet looking to become homeowners, but have other financial goals with shorter time horizons

Lens of recent history
Millennials watched their parents suffer through recessions – the memories are fresh and creates a propensity for risk that may belie their age

For risk assessment software catered to your client’s perspectives, contact Tolerisk® today.