Schwab funded a research study to find out what the next generation – “Generation Now” – believes and how it views the world. They wanted to understand how they view their future, determine their fears, attitudes and behaviors.
“Generation Now” is 30 – 45 years old. They have graduated from college, have a career and are making good money. But as they reached adulthood, the events they grew up with shaped them and their attitudes.
Most “Generation Now” Investors are unaware of the diversity that exists in the wider world of financial advisors. Advisor perceptions, often unfairly, are based on cumulative interactions with financial professionals, most of whom aren’t technically RIAs.
Like the retail guys that we see on TV, like Schwab and TD Ameritrade… I thought they were kind of like basic advisors. You know they have a desk in the office, in the big office with a bunch of other guys with desks… They just give basic investment advice. I guess I’m looking for more of a detail or a sit down with a professional. I think that’s what Chase Private Clients is like. I think it’s really more like upscale.
This is the ninth of 12 posts examining Generation Now.
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