In 2026 the oldest Baby Boomer turns 80. That person will be followed by 76 million Baby Boomers entering the last years of their lives. Just as the Baby Boomers redefined financial services when they started turning 35 in 1981, this transition will be equally disruptive. The future just arrived: the great wealth transfer that we've been talking about for the past decade is now here.
Unfortunately, most advisors are unprepared for this. They have strong relationships with their biggest Baby Boomer clients, but virtually no working relationships with the "Next Gen" clients. In this fast-paced episode, Scott and Ken explore why advisors are reluctant to invest the time and energy with Next Gen clients, why the parents of Next Gen investors are reluctant to start a financial conversation with their children and how these psychological dynamics are likely to impact the commercial success of an entire generation of advisors.
Also in this episode, the AllianceBernstein Digital Coach – see practice management solutions for advisor success: abfunds.com/go/digitalcoach
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