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Martha Underwood: How financial advisors can capture the next generation of investors

As millennials and Gen Z increasingly take the reins of their financial future, financial advisors must adapt to meet their unique needs and expectations.

From embracing digital tools to fostering personalized connections, financial professionals should arm themselves with strategies that will not only resonate with but also capture the loyalty of the next generation of investors.

Prismm's Martha Underwood shared some insights and actionable advice for financial advisors aiming to navigate this demographic shift successfully. Click the video below to watch the full interview. 


One of the biggest challenges facing financial advisors is to really get to the younger generation. How are they capturing the Gen Xers – not the Gen Xers – but the millennials and the generation after that? They're not thinking about financial planning. So how are financial advisors focused on bringing those guys into their offices to help them plan for the future?

When it comes to solving the problem of how to get to the next generation? You get them through money, right? We're in the money business advisors are in the money business. So when you talk about their future, the young kids think they're going to live forever, they don't need to save. How do you broach that conversation? You broach it when you talk about legacy. Because they know about their parents, how much they saved, and their grandparents and how much they saved. And they're hearing about this great wealth transfer that's about to happen. So if advisers could then tap into that and bring them into that conversation, then they can capture that market. 

One of the things at Prismm that we do is help them start that legacy conversation by bringing in that younger generation to talk about how they are going to help get the money that their parents are leaving. Do you know where it is? Do you know who their financial advisor is? So from a marketing perspective, I think if they start messaging that to the younger to the younger generation, then they'll come into that conversation and be more willing to say, All right, well, I need to think about myself as well. And Prismm absolutely helps facilitate that conversation because we're in the legacy passing business.  

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