When I was a child, my mother never discussed her income, or whether the family was struggling financially. As an adult, I learned this was because she didn’t want me discussing these issues with friends. But I now realize this was a missed opportunity to teach me about money, and for her to explain why it was a sensitive topic.
Last year, I got married and my husband and I bought a condo. Our lavish wedding, and the down payment for our home, was funded largely by savings, along with some generosity from our families. Even though we pulled it off, not all your Gen Y clients will be as lucky.
One of your wealthy clients referred her daughter to you. She’s 27, works in media relations, and just bought her first condo. She’s ambitious and plans to climb the corporate ladder—she’s had two promotions in two years, and should crack six figures within the year. Her busy career and social life keep her smartphone glued to her hand. She wants to discuss her goals and investment options. How do you communicate with her?
Demographics, economics, attitudes and technology will be in flux for the next couple of decades.
Young Canadians aren’t getting ahead financially.
Advisors have four main types of clients.
Young Canadians have embraced the importance of saving, but haven't capped spending.
I’m new in the industry. My mentors have saved people’s families, helped people retire and comforted the sick as they recovered.
Building diverse teams that span generations is central to providing the best business results, says EY.
Do twenty- and thirty-somethings need wills? Experts remain divided.