 While younger clients may have longer time horizons with respect to their financial plans, the data do not support the claim that they intend to spend many years with one advisor."Doug Trott, President and CEO of PriceMetrix. |
Don't Bet the Farm on NexGen Clients
Megan Leonhardt | wealthmanagement.com, January 2014
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Summary: Lately the industry’s been a bit obsessive over “the great wealth transfer” and how advisors can appeal to Next Gen investors. But a new PriceMetrix study shows these clients are not as coveted as previously thought. PriceMetrix found that while client retention has been high in recent years—advisors retained 90 percent of clients in 2013— there are several factors that cause retention rates to vary significantly, including age and income.
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