Utterly fascinating times ahead and a big challenge for providers of Financial Services to get their slice of the Millennial action.
Clearly there is a bias towards providing services through technology to this market, but when it comes to financial advice far too many advisers and IFAs still adopt the attitude that 'financial advice can only be given face to face'.
Granted, many established financial advice and planning firms have a very clear idea about their target market, and that Millennials are not a group they wish to go for, but for those that are prepared to use a little imagination this is a massive opportunity.
At the very least, financial advisers need to seriously up their game in the online world, and whilst most now have websites, hardly any have their own smartphone app - something Millennials engage with constantly through their mobile devices.
This is a great article and well worth reading to improve your understanding of where Millennials sit within the world of financial services.
There's a demographic shift in progress, and the Millennial segment is the center of attention. The financial services industry needs to be prepared to serve this increasingly valuable, yet less loyal generation.