Four ways to attract younger high-net worth clients

Lessons from across the pond

Victoria McKeever
clock • 2 min read

As younger generations are set to inherit "significant" wealth in the coming years, advisers need to understand how to attract those new clients and adapt their business models accordingly, says US-based consultancy Pershing. Here are four lessons from across the pond

In recent research BNY Mellon's Pershing, the US-based financial business solutions firm, found the number of Gen X, Y and Z clients with investable assets of $5-25m had risen from 1,210,000 in 2015 to 1,264,000 in 2016. Advisers wanting a slice of this growing pie need to adjust not only their marketing strategies but also their business models to attract and retain this group of investors, the firm said. Its study, entitled 'Gen Why? How to succeed with younger high-net worth clients who question everything', considered the demographic and psychological factors driving decision-maki...

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