Speaker 1:
They've been called Gen X, Gen Y, millennials. With labels come stereotypes, but we've discovered who they really are; a new generation of investors coming right on the heels of the boomers. They're real people. Each one unique with real assets and they need real help. In fact, they represent one of the most significant opportunities in this decade for the registered investment advisor industry.

Speaker 1:
We took a closer look at a group of 30- to 45-year-old high-net-worth investors, a group we are calling Generation Now, and learned a lot about their beliefs, attitudes, hopes, and values. We discovered that they need an RIA, but they just don't know it yet.

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Right now, there's misunderstanding on both sides of the table. A majority of this generation paint financial advisors with a broad brush and see them in a negative light, while some financial advisors may not believe this generation has the necessary wealth to be served by an RIA.

Speaker 1:
To help RIAs better understand this market opportunity, we met Generation Now face to face and engaged with them in ways that are authentic to them and their generation to reveal the real people behind the buzz. Three high-level themes emerged from our research.

Speaker 1:
One: They're anxious. Given the events of the last 15 years from 9/11 and the global war on terror to climate crises of new proportions and, more recently, the great recession, they suffer from uncertainty and pervasive insecurity about the future
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Two: They approach investing and advice with distrust. Their experiences have shaken their belief in the financial system, its institutions and advisors, and the power of the market over the long term.

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Three: Success is not a number, but a lifestyle of financial freedom. It's having enough to cover healthcare, education, housing, and elder care. It's financial independence, and no longer having to monitor accounts on a daily basis. It's about being free from hardship and always prepared for the unknown.

Speaker 1:
We feel that RIAs are well-positioned to meet the needs of this generation.

Speaker 1:
Generation Now really means opportunity now.

This research was conducted to shed light on high-net-worth investors, aged 30-45, a group we are calling "Generation Now" because of the immediate opportunity they represent for RIAs. In fact, we believe Generation Now may be one of the most significant growth opportunities for RIAs in this decade.

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