Beyond the Basics: Strategies for Multigenerational Planning

Posted by Whitney Drechsler, JD

April 24, 2018 at 10:00 AM

In the next 30 years, approximately $40 trillion will pass from the baby boomers to future generations. Given this sizable transfer of wealth, successful advisors must be equipped to counsel not only their existing clients, but also their clients’ children, grandchildren, and even parents. With this in mind, let’s take a closer look at strategies for multigenerational planning, plus how to go beyond the basics in meeting the financial goals of individuals across generations.

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Topics: Financial Planning

Talkin’ ‘Bout My Generation: Managing Investment Fear and Greed

Posted by Brad McMillan, CFA, CAIA, MAI

April 18, 2018 at 1:30 PM

Like many financial advisors, I am often called on to help my family and friends with financial matters. In my experience advising different generations and age groups, there are some common questions and problems that keep coming up, especially in relation to investment fear and greed. What I tell them—and what I wish trusted advisors would tell their existing and prospective clients—depends on where they are in life.

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Topics: Asset Management & Investing

Uncovering Investing Trends Across Generations

Posted by Meagan Rogers, CFA, CFP

April 17, 2018 at 10:00 AM

Today, the Baby Boom generation (1946–1964), Generation X (1965–1981), and Generation Y (a.k.a. millennials [1982–2000]) represent a fairly even distribution of our country’s workforce and shape the dominant consumption patterns driving the U.S. economy. Each of these generations has been influenced by different economic events that have shaped their financial attitudes and beliefs. But what’s really interesting? Their financial goals, asset allocations, and investment preferences share meaningful similarities. Let’s uncover some of the investing trends across generations, including similarities and differences, as well as potential opportunities for financial advisors.

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Topics: Asset Management & Investing

Millennials in the Workplace: Fact Vs. Fiction

Posted by Angela Sarver

April 11, 2018 at 1:30 PM

Did you know that millennials are the largest generation in the workforce? In fact, by 2025, three out of four workers will be a millennial. Their preferences are shaping workplace policies, and they are challenging employers to think differently about employee engagement, loyalty, and satisfaction.

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Topics: Practice Management

Naming Your Financial Advisory Firm: Is It Time for a “BackRub”?

Posted by Kristine McManus

April 10, 2018 at 10:00 AM

Part of my role as Commonwealth’s chief business development officer is to work with advisors on their firm’s brand strategy—What is your brand? What would you like it to convey?—as well as methods to carry out that strategy—How do you promote your brand to attract ideal clients?

In my last blog post, I wrote about branding and some of the key issues advisors face when choosing a firm name. I also outlined the pros and cons of naming your practice after yourself; the short answer is, we don’t recommend it. Right after that blog article was posted, I received a call from an advisor. He understood why naming his firm after himself was limiting and agreed with all the reasons I laid out—but what, then, should he name his firm? The advisor was at a loss as to how to proceed.

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Topics: Practice Management

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