Fidelity’s New Money Firsts Sitelet Takes Aim at Millennials

by on Jan 28, 2014

In mid-December, Fidelity partnered with LearnVest to launch a newFidelity Money Firsts sitelet, promoted solely through the firm’sFacebook page.fidelity_Logo_fid (1) The education-focused sitelet is designed to help Millennials understand the potential financial hurdles many will face when they begin their young careers and transition into adulthood.

The sitelet provides a host of resources, including articles, videos and quizzes that aim to educate users on various financial planning topics. Additionally, Fidelity utilizes the value of social media and word of mouth marketing when connecting with a younger generation by allowing users to share virtually all of the content found within the sitelet through Facebook, Twitter, Google+ and LinkedIn.

Fidelity’s Money Firsts Sitelet
Fidelity’s Money Firsts Sitelet
Online Resources for Millennials
The Money Firsts sitelet discusses the financial “firsts” young people face within three main sections of the site – Learn, Act and Live. Each section tries to appeal to younger adults by focusing on topics that are generally important to Millennials (e.g., paying off student loans and starting to save for retirement).

The Learn section provides a variety of educational resources, including FAQs, quirky videos and informative articles, on five financial-focused topics – Investing, Spending, Borrowing, Saving and Preparing. The Act section features quizzes, tools and strategies aimed to help figure out how to set and accomplish financial goals. The Live section again shows the importance of social media when engaging with Millennials by allowing users to create “Future Timelines” on Facebook. A Future Timeline helps clients plan and prepare for potential future life events by adding financial and personal goals to a timeline to make them seem more manageable.

Closing Thoughts
Though Fidelity is not the only firm that is trying to appeal to Gen Y clients, they are putting out more resources and tools than most competitors. One of the biggest problems facing potential Millennial investors is the lack of a proper financial education. A 2013 Wells Fargo survey[1] found that 70% of Millennials wished they learned basic investing in school, with 79% arguing that personal finance should be taught in high school. Through this sitelet, Fidelity aims to address this issue by educating younger clients in order to hopefully create more confident and comfortable investors.