Millennials, or the generation of individuals born between 1980 and the early 1990s, are typically laden with debt, underemployed, distrusting of financial advisors and highly risk averse when investing. Despite those characteristics, they are attractive prospects for financial advisors.
Clients get angry. Its inevitable. Some clients may simply have unrealistic expectations and become upset when their unreasonably high standards aren’t met. In other cases, advisors may not clearly communicate with their clients or advisors may simply become overwhelmed with day-to-day activities and fail to promptly address their clients’ needs.
Financial advisors frequently find themselves in thorny situations that involve helping clients address sensitive issues, such as those arising from marriage, divorce, aging, and illness. Other tough issues may include the need to discuss estate plans with children, spouses or other potential beneficiaries.
Many advisors overlook the value of using white papers as marketing tools, which is unfortunate because such materials can build trust, credibility, and web traffic while fostering more meaningful conversations with prospects. So writes the Journal of Financial Planning.