Meg Carpenter comments on how advisors can bridge the generation gap in an InvestmentNews article. Megan Carpenter, chief executive of FiComm Partners, described Fidelity’s research as “validating.” Carpenter said the advice industry has a “serious over-reliance on generational stereotypes” that is impeding growth and expansion to more diverse clients and markets.
While she recognizes the logic of trying to connect with the adult children of existing clients, Carpenter said that could lead to a less-productive box-checking exercise.
“That’s not the way to approach serving young investors,” she said. “Target marketing done at its best identifies a market that shares similar world views and perspectives and experiences. Targeting children isn’t really targeting a market. As an advisor you have to get really clear about who you’re targeting and understand why you’re targeting them.”
Article By: Jeff Benjamin