April 2018 – Targeting Millennial Clients: Advisor Resources for Millennial Investors

As the largest generation in U.S. history, Millennials are becoming an influential and pivotal group of investors, and a key prospecting demographic for advisors. In this Asset Management – Advisor Monitor Report, we examine the educational resources that address Millennial investors provided on the firms’ advisor sites to support financial professionals. This review identifies materials that are positioned for attracting Millennials as new clients, as well as resources that explore related topics, such as affluent Millennials, sustainable investing and retirement planning. We consider all resources discussing the topic, including commentaries, videos and client-ready materials, such as worksheets and guides.

Fourteen of the 20 Asset Management Monitor – Advisor coverage firms (70%) offer Millennial resources online for advisors. Thirty-six percent of these firms provide only a single item that mentions the topic. Commentaries were the most common format, offered by 57% of firms. Thirty-six percent of firms provide downloadable guides while 29% feature presentations. The majority of materials discuss the overarching generation and Millennials as investors, delivering key trends and recommendations. Few firms fully embrace the subject in dedicated programs or blog series. The firms that do have dedicated pages provide more robust collections of resources, including both advisor-focused and client-ready materials. Firms should consider incorporating more customizable sales materials that advisors can use in business planning and during client meetings.