Interesting read on the future customer base of financials
Millennials are still in the very early stages of market participation: those under 35 own just 4% of mutual fund assets, but the 80-90 million millennials will soar in importance to everyone in the wealth/asset management business before too long. Through inheritance alone, millennials stand to receive $30 trillion in the next few decades. Where they start will often be where they grow. Some, like Wealthfront and forward thinking financial advisors, are tapping into this young potential already. So, if you are in the financial services business, how can you do the same?