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A deep dive into how advisors can best serve the evolving needs of their wealthiest clients
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Popular Financial Topics
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A deep dive into how advisors can best serve the evolving needs of their wealthiest clients
Tax Facts
Anticipate your clients' tax questions on Social Security, annuities and a range of investment products
Popular Financial Topics
Go deeper on emerging topics, as well as key firms and thought leaders
A deep dive into how advisors can best serve the evolving needs of their wealthiest clients
Tax Facts
Anticipate your clients' tax questions on Social Security, annuities and a range of investment products
Popular Financial Topics
Go deeper on emerging topics, as well as key firms and thought leaders
A deep dive into how advisors can best serve the evolving needs of their wealthiest clients
Tax Facts
Anticipate your clients' tax questions on Social Security, annuities and a range of investment products
Popular Financial Topics
Go deeper on emerging topics, as well as key firms and thought leaders
A deep dive into how advisors can best serve the evolving needs of their wealthiest clients
Tax Facts
Anticipate your clients' tax questions on Social Security, annuities and a range of investment products
Popular Financial Topics
Go deeper on emerging topics, as well as key firms and thought leaders
A deep dive into how advisors can best serve the evolving needs of their wealthiest clients
Tax Facts
Anticipate your clients' tax questions on Social Security, annuities and a range of investment products
Popular Financial Topics
Go deeper on emerging topics, as well as key firms and thought leaders
A deep dive into how advisors can best serve the evolving needs of their wealthiest clients
Tax Facts
Anticipate your clients' tax questions on Social Security, annuities and a range of investment products
Popular Financial Topics
Go deeper on emerging topics, as well as key firms and thought leaders
A deep dive into how advisors can best serve the evolving needs of their wealthiest clients
Tax Facts
Anticipate your clients' tax questions on Social Security, annuities and a range of investment products
Popular Financial Topics
Go deeper on emerging topics, as well as key firms and thought leaders
By thinkadvisor
August 26, 2013 at 08:00 PM
To keep your business healthy, you may need to cultivate prospects who are 10, 20 or even 30 years younger than your average client today.
This interesting proposition came out of Pershing LLC’s recent “Investor of the Future: The Quest for Tomorrow’s Affluent Clients Starts Today” report. One of the findings of this study was that advisors’ perception of the relative appeal of various affluent age groups was heavily skewed toward older people.
Advisors in the survey estimated that 56% of affluent investors are 55 or older. A corresponding 60% of their clients are typically in this age group.
But in reality, people who are over 55 make up only 35% of the affluent market. Focus on them, and you’ll miss almost two-thirds of affluents—the 65% who are 54 or younger (and who may be less avidly courted by your competitors).
| Age Group |
% of Average Client Base |
Estimated % of Affluent Market |
Actual % of Affluent Market |
| < 35 (Millennials, Gen X) |
5% |
10% |
10% |
| 35-44 (Gen X) |
11% |
13% |
22% |
| 45-54 (Gen X, younger Boomers) |
24% |
21% |
32% |
| 55-64 (Boomers) |
31% |
28% |
25% |
| ≥ 65 (Older Boomers, Matures) |
29% |
28% |
10% |
| TOTAL |
100% |
100% |
99% |
Source: “Investor of the Future: The Quest for Tomorrow’s Affluent Clients Starts Today,” Pershing LLC and BNY Mellon, 2013. Used with permission.
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