How Financial Advisors Can Connect with Millennial Clients

Reh Bhanji (Certified Financial Planner, Chartered Life Underwriter)

Table of Contents

It’s no secret that attracting Millennial clients poses a major challenge for many financial advisors today. But why? Despite record inflation levels, most Millennials still got their money hopes riding high! I’m talking a solid 63 percent are confident they can reach their financial goals no matter the inflation craziness, according to the State Street Global Advisors Survey. Compare that to us Gen Xers… just 32 percent are keeping the faith they can get there. And don’t even get me started on the Baby Boomers – only 40 percent are confident with all the rising costs messing with their money plans.

So you tell me… who’s really got the right mindset here? Sure, maybe Millennials can’t drop rhymes as fly as Dr. Dre or Stevie B, but when it comes to believing in financial success no matter the economy? The younger generation got this wisdom game on lock!

While many Millennials face debt troubles, their priorities differ greatly from older generations like Gen X and Baby Boomers. This disconnect spurs financial advisors’ difficulties attracting them. By adjusting their approach to align with Millennials’ lifestyle values and expectations around flexibility, freedom and experiences over stuff, financial advisors like Cindy Marques gain the trust and loyalty of these young clients.


  • Millennials have different priorities than older generations when it comes to finances, valuing experiences, work-life balance, and flexibility over material goods and climbing the corporate ladder. Financial advisors need to understand these motivations.
  • Many Millennials feel overwhelmed by debt but still want to enjoy life experiences now, not just save for some distant future. Financial advisors can help by clearly showing how financial planning enables their envisioned lifestyle.
  • Millennials prefer personalized advice and long-term loyalty over transactions. By starting early with fee-based planning, financial advisors can develop multi-decade client relationships.
  • Millennials expect convenience and responsiveness. Financial advisors need strong online presence and to communicate via platforms Millennials use, like social media and texting.
  • Financial advisors should position themselves as financial problem solvers who can diagnose issues and provide customized solutions to address Millennials’ biggest pain points.
  • Marketing content needs to anchor around Millennial values like work-life balance and wellness. Show how proper financial planning facilitates their envisioned lifestyle.
  • Provide clear next steps and make taking the first leap frictionless. Millennials may know they need financial planning help but stall on where to begin.
Tactic Description
Leverage social media Create profiles on platforms Millennials use like Facebook, Instagram, X (Twitter), and LinkedIn to increase visibility and opportunities to engage. Create visually engaging financial content like infographics and reels that speak to Millennial values and priorities.
Focus on digital experiences Offer easy online account access, mobile apps, text reminders, pre-recorded videos, video conferencing, etc. to align with Millennial preferences. Meet Millennial clients where they are digitally by building an omni-channel experience that allows seamless communication across their preferred platforms.
Emphasize values Highlight commitment to social responsibility, causes Millennials care about, ESG investing, etc. Values matter to this demographic.
Provide education Offer learning opportunities through various mediums like videos, video PDFs, podcasts, webinars, etc. to build knowledge and trust. Take an empathetic, holistic planning approach focused on quantifying lifestyle goals and being a collaborative financial problem solver, not just pushing products.
Customize offerings Start conversations by understanding individual Millennial priorities and preferred communication methods, not just selling financial products off the bat. Provide financial advice and portfolios tailored to Millennial's unique situations and goals. Personalization is key.
Use simple, transparent pricing Clearly explain fee structure and avoid hidden costs. Millennials value transparency.
Facilitate introductions Introduce Millennial children of existing Baby Boomer clients to your services. Leverage generational connections.
Offer subscription and fee-based models Consider accessible and flexible monthly subscription fees for basic services attractive to Millennials. Offer fee-based planning options that provide value in addressing immediate pain points like cash flow clarity, debt pay down strategies, and tax guidance for side hustlers.
Highlight innovation Tout innovative tools and technology used to deliver modern experiences Millennials expect.
Build relationships Create financial content and marketing tailored to Millennial values like work-life balance, travel, and experiences over material goods. Focus on genuine relationship building, not just sales. Loyalty follows trust with this demographic.
Custom branding
Showcase your brand.
Video narrations
Easily video-narrate PDF presentations or key documents when needed (otherwise video is optional). Redo slide if you made a mistake. Use built-in teleprompter to record longer videos.

Data rooms
Attach any supporting files and links. Make it easy for your prospects and clients to find the right information quickly.

Company profiles
Create company profiles with custom banners and info-packages tailored to different industries.
Contact details
Show your contact info easily accessible by your prospects and clients.
Custom CTAs
Add custom CTAs to drive prospects or clients to your calendar, sign up form, etc.
Engagement analytics
See how prospects and clients interact with your PDFs.

Feedback and Reactions
Collect feedback from prospects and clients. Feedback and reactions are not publicly visible.
Share PDFs
Share any existing PDF presentations and documents.
Live links
Share with a single link. Update files even after sharing your link. Get notified when your PDF is viewed. Turn off access anytime.

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Why Should Financial Advisors Connect with Millennials Now?

I know it’s tempting as a financial professional to think Millennials are just a “future opportunity” to worry about later. You want to focus on those older, wealthy clients who have money now. I understand, but let me emphasize – ignoring the Millennial market is incredibly short-sighted, in my opinion.

For Millennials, Financial Advisors are the number one trusted source for financial advice - Infographic

Here’s why financial advisors should make engaging these younger clients a priority right away:

Firstly, their earning potential is going to surge over the next decade. As Millennials progress in their careers, household incomes and ability to save and invest will accelerate rapidly. The Great Wealth Transfer has already begun as Baby Boomers start passing money to their children. So assets under management from Millennials will expand tremendously. Financial advisors who establish relationships early can benefit from this coming wave of growth and generational wealth transfers.

Secondly, Millennials value personalized service and long-term loyalty over transactions. The Millennial generation is very skeptical of financial professionals focused narrowly on sales. However, they desperately want financial advice and guidance and are devoted to financial professionals who earn their trust. By starting early with personalized advice and transparent, fee-based planning, you can develop multi-decade client relationships.

Finally, digitally-fluent Millennials expect convenience and responsiveness. From social media to texts and mobile apps, younger clients demand availability and options. Financial planners lagging on digital capabilities will struggle to attract and retain these younger clients. So the time to adapt channels and messaging is now. I fall flat in this category, but my secret sauce is to get my Gen Z daughter to help me digitize my social media vibe!

In summary, financial advisors postponing outreach and marketing to Millennials are sacrificing tremendous assets and revenue in the long run. This tech-savvy generation seeks financial advisors who understand their priorities and provide lifetime support. By embracing Millennials today, you future-proof while making an impact on the financial lives of the next generation. It’s a win-win situation, so why wait?

Reh Bhanji (Certified Financial Planner, Chartered Life Underwriter)
Reh Bhanji (CFP, CLU)

National Best Practice Leader at Desjardins

Understanding Millennial Values and Priorities as a Financial Advisor

So how can we financial planners and advisors better attune ourselves to serve this complex generation entering their prime earning years yet overwhelmed by debt, anxious about the future, and prioritizing life experiences over material goods? Imagine the growth when we know how to speak their language! Tune into this market so you don’t get FOMO!

Millennials value experiences over material goods

So here’s the deal folks – I chat with lots of Millennials and they always tell me they care more about spending money on experiences versus buying material stuff. At first, I was like, whaaat? Back in my day, we loved showing off all the sweet gadgets and toys we had. But I’ve come to realize the Millennial generation has totally different priorities driving that mindset.

I mean, think about it. Most Millennials entered their prime spending years when that whole 2008 recession mess went down. As Cindy Marques shared on the Discovery Series podcast by Desjardins, that had a huge “profound impact on perspectives towards consumption and lifestyle”. Living through that financial crisis made them more cautious about spending compared to us Gen Xers. They place less emphasis on those material symbols of status that were so important to older generations like Baby Boomers and Gen X.

As Cindy said, “the priority to show our status by buying that flat screen TV, what a novelty. I feel like that was, you know, to my parents demographic”. Can you even imagine defining success by the size of your TV these days?! Times have changed folks.

Plus, studies show Millennials generally value work-life balance and flexibility over climbing the corporate ladder. They get that you can’t share experiences and memories from a new car or gadget in the same way. With limited space to accumulate stuff (thanks to constantly raising real estate prices in the US and Canada!), the focus shifts to spending on experiences that are personally fulfilling – travel, activities that promote health and wellness. Things they can do to create lasting memories.

So as financial advisors, it’s important that we understand what motivates this preference before making blanket recommendations. Helping them quantify and plan for the lifestyle they want is key. And since every Millennial has their own circumstances and unique preferences, taking a personalized, collaborative approach is a must.

Reh Bhanji (Certified Financial Planner, Chartered Life Underwriter)
Reh Bhanji (CFP, CLU)

National Best Practice Leader at Desjardins

Millennials value work-life balance over climbing the corporate ladder

Most Millennials that I meet every day tell me work-life balance is way more important to them than busting their butts to climb some corporate ladder. And I totally get why! Millennials entered their careers when technology started allowing people to untether themselves from the office. The pandemic was a huge wake up call about this.

The pandemic really did expedite that change in mindset when people realize. “Like, wait a second, you mean we can do all of this from home in my boxers and fluffy slippers?” I mean, think about it – with a laptop and Wi-Fi we can work remotely and have flexibility in our schedule. No more commuting or pretending to look busy in a cubicle when you’ve got nothing going on! I call this the Digital Nomad effect!

I think as financial advisors, we’ve gotta recognize that Millennials aren’t willing to sacrifice happiness and work-life balance to climb the corporate ladder like previous generations did. In my experience, they value flexibility and control over their time. And in many cases, side hustles and freelance gigs allow for that type of lifestyle. From what I’ve noticed, for many Millennials, it starts as a necessity to make ends meet, but becomes a preference.

So we shouldn’t judge or look down on Millennials for “job hopping”. We should recognize they are finding new positions that better align with their personal values, priorities, and present lifestyle.

Many Millennials are overwhelmed by managing debt stress

Many Millennials are overwhelmed and stressed out by their debt these days. And I totally get it, because I’ve been there myself! Our first memories with money are often tied to things like student loans or credit cards – not the most positive association.

Debt by age of reference person - Survey of Consumer Finances - CHART

As Cindy shared “I remember when I first got my credit card. My very first credit card that was in high school… the shopping problems began and it was just non stop and the immediate anxiety and stress that you know I felt, the moment I realized, like, wait, I have to pay this back!”

I think the Millennial generation associates debt very much with a feeling of lack of control. Most Millennials entered adulthood right around 2008 during the Great Recession. Talk about terrible timing! Many saw their parents struggle during that time. Paying back student loans and cumulative credit card debt can be overwhelming. Not to mention, the career path that they chose during university may not exist by the time they graduate due to technological advances.

As financial professionals, we’ve gotta recognize that debt stress is very real and very emotionally charged for this demographic. Even Millennials making good money feel like they are living paycheck to paycheck these days. I think a lot of it comes down to the lack of financial education and literacy.

So as financial advisors, we should start the conversation by creating a safe space to talk openly about the anxiety they feel around debt. Help them quantify their financial goals and create a detailed debt repayment plan. We can incorporate budgeting tools and calculators into financial plans to show how small changes will make a big difference over time. The key is equipping Millennials with the confidence and clarity needed to get out of debt and achieve the lifestyle they truly want.

Millennials prioritize health, wellness and self-care

In my experience, younger generations really care about their health and wellbeing. I feel them on that 100%! Being an older dude myself now, I’m all about things like playing pickle ball, listening to a great podcast 😊 and my Keto diet. Gotta keep this temple in shape!

Millennials define personal care really broad – having gym memberships, fitness classes, programs to keep active. They got no qualms about dropping bucks on dining out at hip bistros or getting their self-care on at the spa. These are areas they don’t feel bad splurging on. It aligns with their values of feeling good and being well! Take it from co-host of the Discovery Series Unplugged podcast David Lee.

I think it goes back to Millennials knowing “you only live once”. So they’re focused on caring for their minds, bodies and souls as part of living a rich life. They see self-care as a necessity, not some “boujee” luxury.

As financial advisors, it’s important that we understand that health and wellness mindset is a priority in order to connect with them. Asking clients about favorite activities and things that bring them joy resonates way more than hypotheticals about assets or retirement.

The key is crafting recommendations to help them protect their whole self – physical, mental and spiritual well being. This generation of young people are open to insurance products that cover finances as well as personalized services that aid their wellness pursuits.


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Many Millennials favor renting due to flexibility

In chatting with my Millennial clients, I’ve noticed many actually prefer renting property rather than buying a home. And I totally get where they’re coming from! The flexibility of not being tied down is appealing. High real estate prices and interest rates also are not helping.

From what I’m seeing, Millennials often prioritize having control over their schedule and location over settling down in one place. With technology allowing remote work possibilities, the corporate 9-to-5 grind seems outdated. Millennials recognize you can still build a rich life while having the freedom to bounce around where you want.

Plus, after witnessing the 2008 housing crash, owning property can feel risky for many Millennials. We saw folks lose their homes when prices plummeted seemingly overnight. So rather than tie up cash in a down payment and take on a massive mortgage, Millennials think – hey, why not invest that money in other areas that align with my values and provide flexibility?

As Cindy noted, as a financial advisor you can strategically “win” when renting if it enables spending on experiences instead. The point is, we shouldn’t assume Millennials are throwing money away or making poor decisions by renting. For many, it’s an intentional lifestyle choice that fits their vision of success.

Many Millennials prefer to save money to ball out on vacations and experiences instead of hefty housing costs. And if a new opportunity pops up in a different city, they can relocate without worrying about selling property.

So I think, as financial advisors, we shouldn’t judge or look down on Millennials for choosing to rent. We should recognize it as a strategic lifestyle choice aligned with their values around flexibility and experiences over material assets. Where they lay their head at night doesn’t define their success.

Millennials care about protecting their lifestyle

To me, it’s clear health and wellness rank high on the Millennials priority list. Cindy Marques broke it down how Millennials define wellbeing real broad these days. We talking spending money on boutique fitness studios, healthy meal services, apps and programs for staying active. As she said, they don’t hesitate splurging on things that align with feeling good.

And I totally get that, you know? Millennials know we only get one ride on this big blue marble. So they stay focused on nurturing their whole self – mind, body and spirit. They see activities like yoga, travel and dining out as essential for living life to the fullest.

So as financial advisors, we have to grasp what motivates their spending habits if we would like to find connection strategies. Asking how they envision staying active if faced with unexpected illness resonates deeper than hypotheticals about assets or traditional retirement planning.

The key is crafting marketing strategy and messaging that resonates with their desire to protect their ability to fund the lifestyle they envision, across physical, mental and spiritual realms. Since they define wellness broadly, the solutions should be broad too. Millennials are open to financial products with living benefits that aid continuing their self-care routines.


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Build Relationships When Marketing Financial Services to Millennials

After my revealing chat on the Discovery Series: Unplugged podcast with Millennial money maven Cindy Marques, I realized that many financial advisors need to shift how they engage with younger clients. Through Cindy’s insights, I uncovered communication approaches that resonate and attract younger clients. What’s the secret to attracting younger clients? Move beyond traditional KYC methods to discover their unique definitions of success.

Emotional connection drives much higher annual customer value - The Financial Brand - INFOGRAPHIC

Communicate on their platforms

In my experience, the vast majority of Millennials prefer communicating through social media platforms and texting rather than old school phone calls or emails. And I totally get it! As a fellow Gen Xer, I remember the days of passing notes in class and three-way calling on landlines, even putting a quarter in the pay phone to make a call. Times have changed so we financial advisors need to adapt how we build connections if we want to gain Millennials’ trust.

As Cindy shared, Millennials spend a huge chunk of time on their phones and social media platforms like Instagram and WhatsApp. So that’s where we need to meet them! Social media is a great way to share bitesize financial info that grabs their attention and feels relatable. Carousels, reels, etc. allow financial advisors to communicate important concepts through creative formats.

And once a relationship is started, texting or WhatsApp keeps things feeling personal while accommodating their on-the-go lifestyle. Sending a DM, video PDF or voice note is way better received than leaving a voicemail these days! As I see it, it’s all about making access to a financial advisor feel easy and judgment-free.

So while we old school folks may prefer a handshake or formal meeting, the key to gaining a younger client’s trust is showing up where they’re most comfortable. If I slide into a Millennial’s DMs to break down a complex tax strategy or send a text reminding them to grab coffee and chat about savings strategies, I’m speaking their language while demonstrating I get their world. And that connection is everything!

Show empathy and vulnerability as a financial advisor

I chat with a lot of younger clients who tell me they want a financial advisor who keeps it real with them. And I feel that 100%! As a seasoned Gen X, I know we didn’t exactly get taught money and debt management in school or have parents breaking down credit card bills at the dinner table.

Most Millennials’ first taste of money came from stuff like student loans or credit cards. Not exactly happy vibes associated with those early money memories! So I think it builds trust when I can relate and say, “Yeah, I’ve been there too. My first card had a limit of $1,000 that I maxed out on a trip to Mexico to party when I was in my early 20’s – which I definitely couldn’t afford!” Being open about mistakes I’ve made seems to relax Millennials.

So while some old heads front like they got it all figured out, I find showing my flaws brings guards down faster. Millennials open up more when you show you’re still learning too. Then we can laugh together about the dumb stuff we bought that seemed so crucial back in the day when the credit limit allowed it. That realness and empathy builds connection – we’re in this thing together.

Custom branding
Showcase your brand.
Video narrations
Easily video-narrate PDF presentations or key documents when needed (otherwise video is optional). Redo slide if you made a mistake. Use built-in teleprompter to record longer videos.

Data rooms
Attach any supporting files and links. Make it easy for your prospects and clients to find the right information quickly.

Company profiles
Create company profiles with custom banners and info-packages tailored to different industries.
Contact details
Show your contact info easily accessible by your prospects and clients.
Custom CTAs
Add custom CTAs to drive prospects or clients to your calendar, sign up form, etc.
Engagement analytics
See how prospects and clients interact with your PDFs.

Feedback and Reactions
Collect feedback from prospects and clients. Feedback and reactions are not publicly visible.
Share PDFs
Share any existing PDF presentations and documents.
Live links
Share with a single link. Update files even after sharing your link. Get notified when your PDF is viewed. Turn off access anytime.

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Build trust with Millennials by providing financial confidence coaching

From my experience working with Millennials, many don’t feel confident when it comes to money matters. And I can’t blame ’em! Financial literacy just wasn’t taught back when we were going to school. Even after graduating with an advanced physics degree, Cindy shared that she still lacked money management basics. As she tells it, “I graduate, and now I’m expected to just be an adult. How the hell do I do this?”

Financial Knowledge Encourages Confidence and Engagement Amongst Millennial Clients - INFOGRAPHIC

If money and financial topics give them stress and anxiety, we should create a judgment-free space to talk it through. Provide coaching to help them gain financial confidence, even with simple stuff like budgeting apps or credit card points programs.

Small money wins help build knowledge and confidence. Strategies like how consolidating student loans can lower interest rates. Or how paying in full versus minimums impacts credit scores. The goal is equipping Millennials with the financial education, skills and clarity to feel empowered.

Quantifying lifestyle goals builds trust with Millennials

From what I see, Millennials tend to define personal success on their own terms – flexibility in their schedule, freedom for job mobility, investing in experiences over stuff. But it can be hard to put those lifestyle visions into actual numbers.

That’s where you can help! Once you get clarity on what genuine success means for that younger client, you can start quantifying it. How much will that year-long excursion abroad cost? What salary do they need to work 3 days a week instead of 5? How can they structure their cash flow to fund both entrepreneur and lifestyle goals?

Putting dreams into dollars and cents makes them tangible. Having a detailed roadmap with milestones empowers Millennials to feel confident, in control, and like that fulfilling life is truly possible. And knowing you’re invested in helping them create that plan builds big time trust.

So while the traditional financial planning metrics might focus on assets and retirement timelines, I find Millennials open up more when the conversation centers on mapping out a financial plan to fund the lifestyle that aligns with their values. Quantifying those personal goals helps us shape solutions together.


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Financial Service Models that Align with Millennial Clients

One thing I’ve noticed Millennials don’t necessarily see the value in the traditional financial advisor service model that’s all about selling products. As Cindy mentioned, Millennials have a tough time accumulating investable assets when most of their money goes towards debt payments and saving up for big purchases like a home.

So typically they aren’t super receptive when financial advisors start pushing investments or insurance products using fear-based triggers about market crashes or illness. They’ve got more immediate financial fires to put out! Instead, Cindy noted the key is positioning yourself as a financial problem solver – their on-call expert to diagnose issues and provide customized solutions.

Cindy’s model is to provide a full scope of services as a fee-based financial planner to create a financial plan tailored to Millennials unique situation. Together you prioritize the biggest pain points, whether it’s cash flow, taxes, debt management, protection planning, investments, tax planning services, or other areas. I recommend you use spreadsheets and calculators to quantify their goals and stress test different scenarios.

Once they see the numbers in black and white, they feel empowered to make informed decisions. This collaborative approach builds trust and shows you’re focused on helping them achieve their vision of financial freedom on their own terms. They see the value in paying for financial advice that maps out a roadmap, versus only selling products that don’t actually address their real-life priorities.

Having Productive Financial Conversations with Millennials

Let me drop some truth on you real quick: According to the survey by Real Estate Witch, the average Millennial nowadays is buried under a mountain of debt to the tune of six figures! And you best believe it’s not just student loans either.

Debt by age of reference person - Survey of Consumer Finances - CHART

Turns out almost 70% of the Millennials polled are packing credit card debt, half have choked down some student loans, two in five got slammed with personal loans or medical debt, another two in five are making car payments, and a third even went in on a mortgage. I mean, dang! No wonder money stresses the Millennial generation out till they’re up at night staring at the ceiling. But we can’t be pointing fingers and saying they’re just frittering away cash on avocado toast (that is my daughter’s vibe for all the Gen Z fans). Nah, the times they are changing! So we gotta pivot our approach if we want to nurture favorable connections.

What if we asked: How can we connect money topics to what lights their fire? As financial advisors, the landscape has shifted, so we have to shift too. If we bring heat with judgment, we’ll just push them away. But if we meet Millennials where they’re at with empathy and practical solutions tailored to their priorities, now we’re cooking!

Tie financial concepts to lifestyle impacts

Many of my colleagues, and myself included, realized that just rambling about investments, risk tolerance and asset allocation makes younger clients’ eyes glaze over faster than a Tim Bits. We have to pivot our approach if we want to connect.

I always recommend financial advisors to try to link money topics back to the lifestyle goals that get Millennials fired up. Their priorities are traveling the world, starting passion projects, or maybe finally moving out of their parent’s basement.

For example, you can ask “Janet, didn’t you say you’ve been dreaming about backpacking across Europe someday? How much do you think a 3 month trip might cost?” As she throws out a number, you can jump in with “OK, if we aim to have that $15K saved in the next 3 years, what amount would we need to stash away monthly to make your Europe dreams a reality?”

Now we’re talking goals she cares about in a way that’s tangible. Once you’ve mapped out a savings plan connected to her travel ambitions, then you can jump into financial planning strategies.

Same idea works for debt paydown. Most Millennials feel buried by balances on student loans and credit cards. Reframing student debt repayment in terms of how it will fund their next chapter, whether it’s Sonia finally moving in with her boyfriend or David buying his first condo by 30.

Incorporate financial therapy when talking with younger clients

I gotta tell you, money stuff can be real emotional for Millennials. Debt, savings, investing – this ain’t just numbers on a spreadsheet. It ties into their dreams, relationships, and self-worth. The whole enchilada.

Cindy coined the phrase “Financial Therapy” in the Discovery Series Webcast Episode “Advisors Voice” Discovery Series – The Advisor’s Voice ( I recommend financial advisors aim to sprinkle in some financial therapy when they chat with younger investors and clients. Instead of just facts and figures, you want to connect with their whole selves. Build trust, you know?

The key is creating a safe space for openness. Oftentimes, sharing personal money fails and wins, not just play the “expert financial advisor” role helps builds rapport and gains understanding of attitudes and behaviors around money.

Now financial therapy ain’t no magic bullet. But bringing more heart into money conversations leads to better engagement and outcomes with my Millennial clients.

Crunch numbers to make it all crystal clear for Millennials

When working with Millennial clients, throwing around vague notions of risk don’t exactly make their hearts race faster than a double shot of espresso from Timmy’s. As Cindy highlighted, we should turn general investment advice into custom number-crunching that speaks directly to what lights their fire.

That’s why I always recommend financial advisors whip out their nifty Critical Illness Impact Calculator when chatting about medical coverage. You can plug in their current stash, income, and month-to-month lifestyle bills. Then you can model out just how fast their travel and dining budgets go kaput if they get slammed with medical bills after a major health crisis.

So at the end of the day, crunch those numbers, and let the calculators tell the story. Make it crystal clear just how quickly it can all go sideways without a solid plan. That’s what gets them listening hard!


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Transforming Understanding into Impact

We’ve covered a lot of ground in understanding Millennial motivations, priorities and pain points. But insight without action is meaningless. So how can financial advisors turn all this learning into content and messaging that truly resonates with younger clients?

Speak to Millennials’ values

Millennials care about flexibility, work-life balance, wellness, travel, and making an impact. Yet financial advisor marketing content focuses solely on retirement, portfolios and risk. To connect, financial advisors need to anchor their email marketing, messaging and social media posts around what Millennials value.

Share budget tips for affording that dream trip to Hawaii. Illustrate how financial planning today enables the freedom to work remotely from anywhere. Feature client stories of using investments to fund passion projects and causes. This marketing content demonstrates that with the right partnership, money facilitates the lifestyle Millennials aspire to.

Address Millennials’ pain points

Millennials feel overwhelmed by debt yet still want to enjoy experiences now, not just save for some distant future. They juggle side hustles yet have trouble tracking spending.

  • Play to these pain points by positioning your services as the path to clarity and confidence.
  • Show how cash flow planning and debt payment strategies can help fund a balanced lifestyle.
  • Explain how automating their finances through apps creates simplicity amidst chaos.
  • Use video PDFs and infographics to make concepts tangible – help them see how your offering leads to the life they envision.

Provide next steps

Many Millennials know they need to get serious about money management and financial planning, but stall on where to begin. After you demonstrate how your financial planning services solve their problems, end each piece of content with a clear call to action.

Millennials Know They Should Invest, But Are Overwhelmed - INFOGRAPHIC

Give three concrete steps to schedule a consultation, sign up for a workshop or access a customizable starter kit. Break down barriers to taking that first leap. Make it frictionless for time-strapped, choice-paralyzed Millennials to get the ball rolling. The path from inspiration to action must be direct.

It’s time for financial advisor marketing content to sound drastically different if we want to motivate Millennials. The days of leading with statistical risk assessments are long gone. Now we must have marketing strategies that tap into emotions and lifestyle aspirations if we hope to guide the next generation into financial health and security for the long-haul.


What are the key differences between Millennials and older generations that financial advisors should understand?

Millennials prioritize tech-savvy, personalized services, demanding strong online presence and adept use of social media for marketing financial services. Financial advisors should address their unique preferences, build trust on digital platforms, and provide tailored financial education to attract Millennial clients.

Connecting with Millennial clients now allows financial advisors to build strong relationships early and potentially work with these clients for decades as they accumulate more wealth. This strategic approach ensures a sustainable client base and success in the evolving financial landscape.

Financial advisors can make content marketing more appealing to Millennials by using social media for relatable and educational content, employing SEO, and incorporating video content can capture Millennials’ attention. Highlighting sustainable and socially responsible practices, and showcasing diversity resonate well.

Financial education is crucial in engaging younger clients. Offering insights on topics like student loan debt, investment advice, and debt management through personalized services establishes trust. It positions financial advisors as valuable resources in the complex landscape of their financial lives.

Financial advisors should steer conversations with Millennials towards their top financial priorities – funding memorable travels and life experiences, health and wellness spending, and lifestyle maintenance. Millennials value creating rich experiences over material goods, so advisors must understand these priorities.

Insurance conversations will resonate better with Millennials by focusing on their lifestyle goals and framing protection as enabling cherished experiences. Then have an empathetic discussion on risks to sustaining their lifestyle and quantify personal impact. This will empower them to pursue what matters most to them.

Financial advisors can make money education interactive for Millennials by relating it to their goals and funding their lifestyle. Create personalized learning experiences through social media platforms, video, gamification elements like points/badges for financial tasks completed, and collaborative budgeting apps.

Disclaimer: The following information is being presented on the understanding that it is intended for information purposes only. None of the presenters or Desjardins Insurance has been engaged for the purpose of providing legal, taxation, or other professional advice. No one should act upon the examples/information without a thorough examination of the legal/tax situation with the appropriate professional advisors.

About the Author

Reh Bhanji (Certified Financial Planner, Chartered Life Underwriter), a veteran in the insurance and financial advisory industry, boasts over 25 years of experience. His journey began in 1998 at Imperial Life Financial in Toronto, ON, where he managed over $40 Million in annuity assets. His prowess quickly earned him a promotion to Team Leader in 2002, where he led a team of financial advisors. In 2005, Reh’s expertise propelled him to the role of Regional Sales Director at Desjardins Financial Security. In this role, he was responsible for training financial advisors and driving life and health insurance sales through strategic marketing and business development. His commitment to financial advisor education was further exemplified between 2007 and 2009, serving as Vice President for Education at Advocis Toronto (The Financial Advisors Association of Canada). In 2012, he became Senior Regional Sales Director at Desjardins Financial Security. At Desjardins, he managed the company’s largest account and developed key sales strategies and business building techniques for life and health insurance solutions. His exceptional leadership skills led to his 2020 promotion to National Best Practice Leader at Desjardins Financial Security, where he spearheaded the coaching and development of sales processes across the national network. In 2021, Reh expanded his influence as the host of the award-winning Discovery Series Podcast by Desjardins, providing a platform for industry-leading financial advisors to share their strategies, success stories, and industry leading insights.

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