Summary

Due to the aging population of the industry’s most heavily targeted clients, developing relationships with the next generations of potential investors is paramount. This is not only important when recruiting new clients, but also to ensure firms will retain assets during existing clients’ wealth transfers. For good reason, firms are hyperfocused on the Millennial generation, but many are overlooking Generation X.

Key Points

• The collective investable asset base of Generation X ($7.6 trillion) is currently more than four times larger than that of Millennials ($1.8 trillion).
  
  
• Gen X and Baby Boomers (i.e., children of the Silent Generation) stand to inherit the most significant share of wealth transferred in the coming decades.
  
  
• Placing greater emphasis on Generation X is a relatively easy process as it dovetails with existing initiatives created for Baby Boomers or Millennials.
  
  
• Young Gen-Xers appreciate the potential benefits of professional advice, but they remain hesitant to fully engage financial advisors.