Mar ch/Apr i l 2014
Contents
On the cover:
Is Your Financial Planning Practice Ready for the Millennials? They’re Ready for You (p. 11)
According to the
2013 Wells Fargo Millennial Survey
, just 8 percent of millennials aged 22–32 work with a financial
advisor. So this underserved group needs guidance—often in the same areas as older clients, including budgeting,
saving for retirement, and tax planning. Millennials may not have much in terms of investable assets yet, but they’re
driven to succeed. And you’re in an ideal position to help them become the next generation of wealthy clients.
Editorial
5 Keeping Our Finger on the Pulse of What Advisors Need
Wealth Management
Planning
8 Connecting with Generation neXt
11 Is Your Financial Planning Practice Ready for the
Millennials? They’re Ready for You
15 Naming an Executor: First Steps for Parents
and Adult Children
Insurance
17 Meeting Clients’ Life Insurance Needs at the
Top of the Arc
Investments & Research
19 Longevity and the Power of Compounding Make
Younger Investors a Unique Opportunity
23 An Argument Against the “1% and Everything Else”
Fee Schedule
25 Things I Wish I Had Known as a Young Investor
26 Investing Themes for the Next Generation
Retirement Consulting
29 “Save Early, Save Often”—A Rallying Cry for Millennials
Compliance & Regulation
31 Green Light, Yellow Light, Red Light: Managing
Communications with Younger Generations
Tech InsighT
33 Retooling Investor360°
®
for a New Generation
Four-Corner Marketing
35 Marketing to the Millennials: A Junior Advisor’s Game?
Practice Management
39 The Power of Mentorship: A Spotlight on the
Junior/Senior Advisor Intensive Program
44 When Saying What You Mean and Meaning What
You Say Isn’t Enough
The Bulletin Board
46 Commonwealth Cares: An Update on Our Support
of Boston Marathon Bombing Victims, One Year Later
48 A Welcome to New Advisors
49 Looking Forward to These Events . . .
50 Top 10 Clubs
COMMONWEALTH BUSINESS REVIEW
CBR
