2019 Beyond Baby Boomers Survey

7 Tips to Prepare for the Rise of Millennials and Gen X investors

A seismic demographic shift is underway as the Swing and Baby Boomer generations yield to Gen X and Millennials as the engines of earning, spending, and saving in the US. The implications of this shift will broadly impact the economy from health care to real estate to consumption.

The wealth management industry sits at the intersection of these changes, as advisors must simultaneously cater to the needs of Swing and Baby Boomer retirees, while appealing to younger generations of clients who are set to inherit or build their wealth over the coming decades. Advisors looking to grow their business face a particular challenge where their wealthiest clients are likely now in, or will soon be entering, the decumulation phase of their portfolios. This presents a headwind that is further compounded by an expected $30 trillion transfer to Gen X and Millennials from their parents.

To assist financial advisors with navigating these momentous changes, Global X partnered with Engine, a leading market research provider, to survey affluent investors in Q2 2019. Our goal was to shed light on the key differences of behavior, education, and outlook among generations when it comes to investing and financial advice. With this information, we believe advisors will be better prepared to serve the diverse needs of their increasingly multi-generational client base.

Click here to view the survey results