Post by account_disabled on Oct 7, 2023 8:53:51 GMT -2
As Boomers pass on their wealth, developments in technology drive huge changes for financial services, and as we adapt to a post-pandemic world, marketers in the wealth management space are being presented with a unique opportunity.In light of this, our report A Changing Landscape, a Unique Opportunity, explores the top things that marketers need to know in 2022. We spoke to more than 2,500 retail investors globally to understand how brands can seize the opportunities that developments in technology and communications are throwing at the wealth industry, and what it means for marketing strategies this year.
New customer profiles are emerging in the wealth sector,Phone Number Listand they are younger than ever before. In the US alone, $30 trillion is expected to pass from Boomers to Gen Z and Millennials over the next few decades, presenting a long-term opportunity if they are well served. Our research showed that 39% of retail investors stay with their financial adviser for between three and five years, while 34% stay for up to 10 years. With the right content and communication strategy, marketers can play an important role in this retention.
One in three (31%) retail investors are considering changing their financial adviser in the next 12 months. Giving a range of reasons for shopping around, including high fees and underperformance, communication plays a key role, with 24% saying that a ‘lack of communication’ from their current adviser was a problem.
New customer profiles are emerging in the wealth sector,Phone Number Listand they are younger than ever before. In the US alone, $30 trillion is expected to pass from Boomers to Gen Z and Millennials over the next few decades, presenting a long-term opportunity if they are well served. Our research showed that 39% of retail investors stay with their financial adviser for between three and five years, while 34% stay for up to 10 years. With the right content and communication strategy, marketers can play an important role in this retention.
One in three (31%) retail investors are considering changing their financial adviser in the next 12 months. Giving a range of reasons for shopping around, including high fees and underperformance, communication plays a key role, with 24% saying that a ‘lack of communication’ from their current adviser was a problem.