ING DIRECT’s The Truth about Gen X and Gen Y report has revealed some startling insights into the minds of the emerging market of Gen X and Gen Y investors. According to the report, more than 95% of Gen X and Gen Y do not have a financial adviser. However, an overwhelming majority (85%) indicate that they would seek financial advice if they were to receive an inheritance.

With today’s younger generation set to inherit some $2.4 trillion in wealth from their parents in the years ahead, they are well-positioned become the key clients of tomorrow. Forward thinking advisers who recognise the potential and adapt accordingly will be in a strong position to tap into this emerging opportunity. But how do you adapt your business model to suit their particular needs and idiosyncrasies?

ING DIRECT’s research into the attitudes of Gen X and Gen Y highlighted a preference for face-to-face advice, with 80% of those surveyed saying they would prefer to meet with their adviser in person, even if just for the initial meeting.

But even within this group, it’s clear that a ‘one size fits all’ approach doesn’t cut it. According to the research, Gen X prefers to seek advice on an ad-hoc basis, whereas Gen Y prefers more regular contact.

With the younger generation, a more flexible and tailored approach to meeting their needs will be a key driver of engagement, so financial advisers need to consider how they can accommodate this in their service delivery.

ING DIRECT’s research found that affordability was a key considerations for both Gen X and Gen Y when it comes to choosing a financial adviser, with expertise, reputation and transparency around fees also rating highly. There is significant perception amongst Gen X and Gen Y that financial advice is expensive, therefore there is an opportunity to introduce a flexible service offering that isn’t cost-prohibitive.

Discover the benefits of a privately owned Licensee.

Voulla Flaskos

Source Accounting

“Capstone made everything so easy by providing all the templates and support we need which makes me feel comfortable that I am in good hands with my licensee. I would highly recommend Capstone to any fellow Accountant."

Travis Allen

Hillyer Riches Accountants

“We have gained assistance with transitioning to the new regulatory environment and provided a new service of strategic financial planning. Capstone have been of tremendous value in assisting with this transition."

Tania Magon

Maven Accounting

“I would recommend Capstone to any accountant seeking to become licenced within the financial services industry. Their personal service and support to me and my firm has been exceptional."

Anthony Buckley

Financial Planit

“I joined Capstone Financial Planning in 2003 as I was looking for a Group that could offer a high level of independence and freedom that came from not being institutionally owned."

Maria Picciani

Willow Wealth Management

“Compliance support and feedback is crucial to our business. The Capstone team are always there to assist us in improving and providing best advice and best practice standards. Their input is always positive and constructive."

KATRINA GAY

Nicholson Financial Planning

“I would happily recommend Capstone as a licensee to other advisers. The Capstone staff are friendly, knowledgeable, and professional, and they are genuinely committed to meeting their advisers' needs. I feel very secure in the knowledge that I have Capstone backing my business.”

MARK COOPER

Acquire Strategic Advisers

“Capstone’s support has been exceptional and consistent from the time our business made the transition. Capstone is continually trying to enhance their service offerings to their advisers, at both the higher level, and more specific lower levels within our business. They are an exceptional licensee and lead from the front.”

JEANETTE SCHRAM

Nett Assets

“I can highly recommend Capstone for planners seeking an independent licensee that’s not in your face but provide quality support services. Their service and support is second to none and has allowed us to concentrate on providing our clients with a premium level of service.”

BEN DREW

Paradigm Principle

“Having been with Capstone for a number of years, one thing that really stands out is their willingness to help and can do attitude. These are qualities we really appreciate.”

FIND A CAPSTONE ADVISER

PROUDLY ASSOCIATED WITH