- Millennial wealth owners value and aim to retain their family's advisors—if the advisors can adapt to meet Millennials’ expectations.
New research from Family Office Exchange (FOX), a global membership organization of private family enterprises and their key advisors, shows that Millennial wealth owners value and aim to retain their family's advisors—if the advisors can adapt to meet Millennials’ expectations.
The FOX Family Client of the Future research, highlighted in new white paper “Engaging the Client of the Future,” finds that Millennial family clients are eager to work with experienced advisors who already know their family, and who can help them address their needs—just so long as the advisors are ready, willing and able to adjust to their Millennial clients’ expectations on engagement and value delivery.
“While Millennials’ needs are similar to those of their parents and grandparents, their expectations for how wealth advisors should meet those needs are notably different than those of earlier generations,” says Amy Hart Clyne, executive director of the knowledge center at FOX.
Family Office Exchange (FOX) is the premier global member network for enterprise families and their advisors who are pursuing best practices for managing their family enterprise and sustaining their family wealth. The community includes over 8,000 sophisticated family leaders and advisors from 460 organizations in 20 countries.