Did you know that only 34 percent of millennials with less than $1 million net worth and only 24% of millennial millionaires use a financial advisor? Whether these statistics are caused by millennials’ skepticism of financial advisories or a perception that they don’t have enough assets to worry about planning, the result is an untapped market that financial advisors can pursue.

Financial planning for millennials isn’t a priority like it is with older demographics. But when you invest in the right marketing tools to work, educate, and enlighten them about the importance of a financial advisor for young adults. While millennials may not be as investment savvy as older generations, that doesn’t mean they aren’t smart enough to invest in their future — they just need the right advisor. So how can you be the “right advisor?” We asked an expert in financial planning for millennials to find out.

Sophia Bera is a winner of the Inbound Marketing Awards and founder of Gen Y Planning, a firm serving millennial investors in their 20s and 30s. Here are some of our takeaways from our discussion about being a financial advisor for millennials.

Millennials lead very busy lives because they are at the ages where many of them are starting families, working long hours, and trying to build stability. If you’re thinking these are the very reasons they need to invest in financial planning, you’re right. But if you want to reach a receptive audience, you must appeal to them on their terms. Instead of relying upon the traditional in-person consultations, for example, give those busy millennials a break and offer virtual meetings that are quick and informative. 

Virtual meetings and other technology are right up millennials’ alley and it may be time to rethink your approach to consultations, marketing, and other aspects of promoting your advisory. From using marketing automation to reach a broader audience to expanding your marketing channels, there’s plenty you can do to connect with millennials. In this week’s marketing tip, Sophia shares with us the secrets to connecting with millennials and harnessing technologies like Uber, Twitter, and LinkedIn to efficiently serve clients.


If you want to learn more about how to be a financial advisor for millennials, and how to attract more of them, you need a digital marketing solution like Attract™ that is designed specifically for financial advisors. Attract™ gives your advisory the flexibility and customization to reach broader audiences using social media, custom email, and more using the latest marketing automation.