麻豆传媒

Are you ready for the next generation of clients?

The face of retirement is shifting. Being ready to serve the post-boomer generations can help your practice stay relevant and successful. So, who are these up-and-coming retirement planners, and why are they so important?

Your next big client opportunity

The oldest Gen Xers turned 59 in 2024, and the most senior millennials are in their 40s, an important saving- and wealth-building decade. But unlike the silent generation and baby boomers, retirement planning for the younger generations will require different strategies. Adapting your approach to help them manage unique challenges and opportunities can help your practice evolve as the landscape shifts.

Position your practice for the next generation

As part of the trillions of dollars projected to change hands through 2045, $72.6 trillion in assets¹ is expected to be transferred to heirs, which will impact about one in four children with an inheritance.² Some Gen Xers and millennials could receive a significant inheritance, and some of them will want financial help.

Offering your retirement planning and wealth management expertise could attract these younger clients. Helping improve their financial confidence with a solid long-term plan could lead to lasting relationships that can help sustain your practice for years to come.

Gen X and millennials are also entering or in their peak earning years. As their careers advance, wealth is growing for people in their 40s and 50s. Be there to help them plan for a financially secure future.

Gen X and millenials want help

In addition to making decisions about managing growing wealth, you have an opportunity to help younger generations navigate the world of retirement planning. As the number of traditional defined benefit pensions has dwindled over the years, Gen X began their careers during the change from these plans to contributing themselves to a defined contribution plan.⁵ This has led to financial anxiety for some savers. For those relying heavily on 401(k)s and self-directed accounts, there鈥檚 a need for professional guidance on managing retirement savings, diversifying investments, taking withdrawals and minimizing taxes.⁶

Consider a different approach

Gen X and millennials represent the biggest potential client pool. That gives you an opportunity to build a long-term client base with the younger generations as you help them prepare for retirement. But it may take a different approach to connect with Gen X and millennials.

How can you grow and position your practice to serve the next generation of clients? Two important areas to consider:

1. Understanding that Gen X and millennial priorities, financial challenges and objectives are different can be a good place to start. Insights and strategies inside our guide can offer ways to help you adjust.
2. Consider preferences for communicating and information gathering. As digital natives, millennials may expect more online capabilities in terms of virtual meetings, online calculators and planning tools to help them plan for retirement. Similarly, Gen Xers aren鈥檛 strangers to digital capabilities. Many of them have worked with computers and digital technology in their day-to-day jobs for decades and use technology in their personal lives every day.

Practical ways to adapt

Here are a few ideas to help you think about appealing to younger generations.

• Rethink the digital experience.
  • Consider how to connect with clients or provide planning resources using technology.
  • Try video-conferencing for more convenient ways to meet with clients.
  • Think about how you present yourself online.
  • Try refreshing your social media accounts and website, and consider adding new social platforms to attract younger clients.
• Consider how you can build the next generation of financial professionals by hiring people representing diverse Gen X and millennial demographics.
• Offer additional tools, educational content and DIY tips younger clients can use to feel empowered in their retirement planning.
• Ask what鈥檚 meaningful to Gen X and millennial clients in terms of charitable giving and investing. Their views and approach may differ from your older clients.

Help shape a reimagined retirement

Gen X and millennials are reimagining retirement in terms of how to save enough, what they want these years to mean and how to spend their time. Understanding them better could help you attract and develop long-term relationships with these younger clients.

A better understanding can also open opportunities to talk about different products that can help meet their financial goals. For example, discussing how a fixed indexed annuity (FIA) can help people accumulate assets for retirement, protect their assets or provide retirement income can help open their eyes to unfamiliar solutions and build retirement confidence.

Download to:

• Explore more insights about Gen X and millennial goals
• Discover their unique expectations
• Find practical tips to help build strong client relationships
• Help future-proof your practice

Incorporating these ideas into your practice could allow you to play an integral role in helping shape a reimagined retirement for Gen X and millennial clients, standing out as their financial professional of choice.

Insights on 麻豆传媒 Connect. Tips, tools and resources to grow your business by helping clients retire with confidence.

1 Cerulli (2022). The Cerulli Report 鈥� Cerulli anticipates $84 trillion in wealth transfers through 2025.
2 Federal Reserve (2023) The Federal Reserve (Bank of Boston) 鈥� The limited role of intergenerational transfers.
3 Intelliflo (2022). Intelliflo survey conducted by The Harris Poll 鈥� Nearly three in five Americans (59%) want financial advice but are unsure where to get it.
4 Nasdaq (2023). Nasdaq 鈥� Embracing millennial and Gen Z clients: unlocking the power of a growing market.
5 InvestmentNews (2025). Gen X is turning 60. Retirement is a worry.
6 FINRA (2024). The FINRA Unscripted Podcast 鈥� The forgotten generation: shining a spotlight on Gen X鈥檚 financial health.