Here’s Why Financial Advisors Should Not Overlook Generation X

In the recent white paper titled, “Neglected Generation” from Cerulli Associates it is argued that the entire generation, Generation X, has been overlooked by financial advisors. It may well be the case with a lot of hype about being ready to accommodate Millennials. However, building a business strategy based on this approach can be a grave mistake. If anyone takes a better look at the numbers then it becomes apparent that Generation X is a collective to be considered with. For example, Gen X has the investable asset base four times larger than Millennials (7.6 trillion vs. 1.8 trillion). The fact that there are more of Gen X than of Millennials is another good premise in this argument.

Besides, Gen X is a direct beneficiary of the Silent Generation and of the Baby Boomers. Both of these generations are actively thinking about a wealth transfer to their heirs and I would argue that Gen X is the next step in the process. Also, Gen X is mature enough to consider financial advice to help them with their savings.  All of these points should be taken into consideration when making strategic planning to grow the business. Another great point about Gen X is that a lot of them are tech-savvy, which can benefit a lot of advisory firms that bet on technological progress and invest in new platforms.


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