Keeping Up with the Gen X, Y and Zers


Digital disruption has occurred at every level of our society. In some areas, the disruption has resulted in innovation and successful adoption of new business models while, in other areas, the result has been a disconnect between the companies and individuals providing products and services and the consumers who want, need and are willing to pay for them. The effects of disruption are especially prevalent in the financial services arena.

As a financial advisor, you need to adjust your thinking and business model to stay relevant with these new digitally driven clients.

  • Authenticity is key. When it comes to financial advice, these next-generation clients want sophisticated, transparent, tech-savvy services with fast, almost real-time responses. They want substance over style – no slick sales pitches – and no judgment if they have a nontraditional approach to their finances (i.e., a focus on socially responsible investing versus traditional, blue chip stocks).
  • They are participants in the process. Many next-gen clients see a financial advisor as a peer rather than an oracle. They want an advisor to be more of a sounding board and a verifier. With online access to so much financial information and advice, this digital-centric group generally does a lot of research and self-education on financial matters before interacting with an advisor. They will fact-check information on their phones during the conversation. But they also have questions and want answers that are personalized to their situation.
  • It’s about solutions, not products. This group expects an advisor to identify and understand their complex needs and wants and to provide an appropriate inclusive solution. They are looking for a combination of resources and services that can help them at every life stage. They are looking to an advisor who can assist in designing a personalized, sophisticated strategy to incorporate both financial and emotional priorities into an overall plan.
  • Most importantly, convenience needs to be more broadly defined. 24/7 access to information is absolutely essential. But having access to aggregated information is also an expectation. And the ability to access information via multiple channels is now required.

While all of these expectations may, at first, appear overwhelming, there is a service available to help you bring them all together: LegacyShield.

LegacyShield is unique in that it offers a secure and simple digital platform for both advisors and clients. It gives you, the advisor, a platform on which you can discuss and visually demonstrate a number of financial solutions to clients, such as how to pay off a large student debt.

At the same time, your clients have a safe, convenient, secure place to store personal data, such as their various online accounts, insurance policies, wills and retirement plans, with designated access for one person or multiple individuals.

LegacyShield was specifically designed and built to offer information transparency for the client, a value-added service for advisors and the broad convenience of digital access via various channels while providing the highest level of cyber-protection.

Learn how LegacyShield can add value to your business. Request a demo, and experience for yourself how LegacyShield can help you keep up with the growing Gen X, Y and Z demographics.



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