Debunking Two Pervasive Millennial Investor Myths
By Elisa Garcia
There are plenty of reasons financial advisors are eager to attract millennials: They’re entering their prime earning years, many stand to inherit wealth from their parents, and in many ways, they represent the future of advisor firms.
But millennials also often spark doubt in the minds of advisors. This age group — which Time magazine calls the Me, Me, Me Generation — are typically stereotyped, in part, as people who are glued to their phones, who eschew human interaction, and who are unlikely to invest their money.
But don’t believe it, While this group has different attitudes about investing and managing money than their parents, they could be the easiest to approach and most accepting of guidance. Here we debunk key myths.