{"id":1034,"date":"2018-06-11T14:18:17","date_gmt":"2018-06-11T19:18:17","guid":{"rendered":"https:\/\/www.rixtrema.com\/blog\/?p=1034"},"modified":"2020-01-09T13:04:59","modified_gmt":"2020-01-09T18:04:59","slug":"smart-strategies-for-advisors-to-attract-millennials-as-clients","status":"publish","type":"post","link":"https:\/\/rixtrema.com\/blog\/smart-strategies-for-advisors-to-attract-millennials-as-clients\/","title":{"rendered":"4 Smart Strategies for 401K advisors to Attract Millennials as Clients."},"content":{"rendered":"<p><span style=\"color: #000000;\"><strong>1. Have the desire to work with the young generation. <\/strong>Aspiring to connect with new potential clients is the first and most important step. Understanding their financial challenges such as student loan debt can be a stepping-stone to a mutually beneficial business relationship.<\/span><\/p>\n<p><span style=\"color: #000000;\"><strong>2. Educate on how to set up a retirement account. <\/strong>Recent studies have indicated that millennials often lack a level of education in finance. This in turn may result in poor financial decisions. Here are a few interesting facts which are mentioned in the study:<\/span><\/p>\n<blockquote>\n<ul>\n<li><span style=\"color: #000000;\">When tested on financial concepts, only 24% of millennials\u00a0demonstrated basic financial knowledge.<\/span><\/li>\n<li><span style=\"color: #000000;\">Nearly 30% are overdrawing on their checking accounts.<\/span><\/li>\n<li><span style=\"color: #000000;\">In the past five years, 42% of millennials used an alternative financial services product\u00a0(Payday loans, pawnshops, auto title loans, tax refund advances, rent-to-own products).<\/span><\/li>\n<li><span style=\"color: #000000;\">At least 54% expressed concern over their ability to repay their\u00a0student loans.<\/span><\/li>\n<li><span style=\"color: #000000;\">Over\u00a020% who had\u00a0retirement accounts took out loans or hardship withdrawals in the past year.<\/span><\/li>\n<li><span style=\"color: #000000;\">Only 27%\u00a0are seeking professional financial advice on saving and investing. (<a style=\"color: #000000;\" href=\"https:\/\/clark.com\/personal-finance-credit\/millennials-lack-of-financial-literacy\/\">Source<\/a>)\u00a0<\/span><\/li>\n<\/ul>\n<\/blockquote>\n<p><span style=\"color: #000000;\"><strong>3. Use modern ways of communication to stay in touch with your potential clients. <\/strong>Being up to date on new tech, new social platforms and current trends, which the generation follows, is necessary to stay ahead of the competition. Be sure to read:\u00a0<em><strong><span style=\"color: #0000ff;\"><a style=\"color: #0000ff;\" href=\"https:\/\/www.rixtrema.com\/blog\/how-to-start-or-start-over-with-social-media-marketing-as-a-financial-advisor\/\">How to Start (or start over) with Social Media Marketing as a Financial Advisor<\/a><\/span><\/strong><\/em><\/span><\/p>\n<p><span style=\"color: #000000;\"><strong>4. Find ways to keep it interesting. <\/strong>Try to visualize your reports by adding graphs and images to it, to make it simple and entertaining; use animated graphics and videos for marketing. Remember that all of our 401kFiduciaryOptimizer clients are entitled to have a free bonus custom 401kFO video for plan marketing with their contacts and logo in it. You can learn more with a personal tour:<\/span><\/p>\n<p><a href=\"https:\/\/rixtrema.net\/401k\/watch?video=169337830&amp;source=blog\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-2146 size-full\" src=\"https:\/\/www.rixtrema.com\/blog\/wp-content\/uploads\/2018\/10\/401kOptimizer-2-1.png\" alt=\"\" width=\"800\" height=\"418\" srcset=\"https:\/\/rixtrema.com\/blog\/wp-content\/uploads\/2018\/10\/401kOptimizer-2-1.png 800w, https:\/\/rixtrema.com\/blog\/wp-content\/uploads\/2018\/10\/401kOptimizer-2-1-300x157.png 300w, https:\/\/rixtrema.com\/blog\/wp-content\/uploads\/2018\/10\/401kOptimizer-2-1-768x401.png 768w\" sizes=\"auto, (max-width: 800px) 100vw, 800px\" \/><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>1. Have the desire to work with the young generation. Aspiring to connect with new potential clients is the first and most important step. Understanding their financial challenges such as student loan debt can be a stepping-stone to a mutually beneficial business relationship. 2. Educate on how to set up a retirement account. Recent studies&#8230; <\/p>\n<div class=\"clear\"><\/div>\n<p><a href=\"https:\/\/rixtrema.com\/blog\/smart-strategies-for-advisors-to-attract-millennials-as-clients\/\" class=\"excerpt-read-more newsstand-button\">Read More<\/a><\/p>\n","protected":false},"author":3,"featured_media":1038,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[200,37],"tags":[41,7,8,12],"class_list":["post-1034","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-prospecting","category-technical-advice","tag-401kfiduciaryoptimizer","tag-financial-advisor","tag-financial-advisor-prospecting","tag-financial-advisors"],"jetpack_featured_media_url":"https:\/\/rixtrema.com\/blog\/wp-content\/uploads\/2018\/06\/4f2c81a6ea818a7b35a49db6b077c6d1-1.jpg","yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v15.9.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>4 Smart Strategies for 401K advisors to Attract Millennials as Clients.<\/title>\n<link rel=\"canonical\" href=\"https:\/\/rixtrema.com\/blog\/smart-strategies-for-advisors-to-attract-millennials-as-clients\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"4 Smart Strategies for 401K advisors to Attract Millennials as Clients.\" \/>\n<meta property=\"og:description\" content=\"1. Have the desire to work with the young generation. Aspiring to connect with new potential clients is the first and most important step. Understanding their financial challenges such as student loan debt can be a stepping-stone to a mutually beneficial business relationship. 2. Educate on how to set up a retirement account. Recent studies... 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