After feasting on the baby boomer gravy train for decades, wealth managers now face the reality that this generation will not feed their bottom line so amply in the future.
That's the simple math for fee-based advisers as boomers transition from asset accumulation to asset distribution.
For the next best growth opportunity, wealth managers should start skewing younger to the next wave of big asset accumulators. And it turns out this potential market is just waiting to feel the advisers' love.
Individuals between the ages of 28 and 53 "are tired of being ignored," says Chris Brown of Sway Research, who conducted a survey of Generation X and younger boomers in conjunction with Mast Hill Consulting. "They want help, but they told us they're tired of seeing all the focus on older boomers while no one pays attention to them."
Wednesday, May 27, 2009
Uhhhhhh....NO!
Sorry, but if you sleep around with my worst enemies I'm not going to take 'sloppy seconds'. Even if you're really hot, too.
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