August 03, 2022

Ep. #26: How to Target Millennials as Financial Advisory Clients with Ivory Johnson, CFP®, ChFC

39 minutes

According to Forbes, “Millennials will hold five times as much wealth as they have today, and the group is anticipated to inherit over $68 trillion from their Baby Boomer parents by the year 2030. This will represent one of the greatest wealth transfers in the modern times.”

There are already approximately 618,000 millennial millionaires. Millennial millionaires make up approximately 2% of the total U.S. millionaire population. The majority of millennial millionaires have a net worth that ranges from $1 million to $2.49 million and fall between the ages of 34 and 37.

Due to inheritances, trusts and estate planning, there will be a steady flow of Millennials getting very rich soon.

The reality is that many millennials and younger clients with huge upside want to work with financial advisors, just not in the traditional way. And, you don’t necessarily have to hire younger associates to attract these younger clients.

In this episode, Referral Coach Bill Cates is joined by Ivory Johnson, CFP®, ChFC, and founder of Delancey Wealth Management. Ivory and Bill explain the importance of attracting a younger clientele, how to target millennials by adjusting your approach, and how this will benefit your business.

Bill and Ivory discuss:

Why Ivory believes it’s important to work with younger clients – especially the adult children of his older clients.

How to target millennials as advisory clients.

2 important questions Ivory asks every client in order to become more relevant and helpful to them.

How Ivory deals with younger clients and the fun part of working with them.

Why advisors need to have a social media presence to attract millennials.

Ivory’s optimism for technology and digital assets.

and more

Resources:

Top Advisor Podcast Ep. 3: How a Business Friendship Can Turn a Loyal Client into an Advocate with Lester Matlock, CFP®, CRPC®, APMA®

Referral Coach: Resources

Connect With Bill Cates:

[email protected]

Referral Coach Homepage

Hire Bill for Coaching

Enroll in The Cates Academy

Connect With Ivory Johnson:

LinkedIn: Ivory Johnson

[email protected]

Delancey Wealth Management

About Our Guest:

With over two decades of helping families and small businesses create and protect wealth, Ivory Johnson has seen the benefits of developing a financial game-plan. Ivory combines his extensive professional and academic experiences to diagnose an increasingly complicated world. He believes that if you can’t explain it, you don’t understand it, choosing the colloquial in favor of formal.

Ivory has a B.S. in Finance from Penn State University, is a Certified Financial Planner (CFP®), a Chartered Financial Consultant (ChFC) and has been recognized by the Global Blockchain Association and RIA DAC for his proficiency in blockchain technology and digital assets. He is also a member of the CNBC Financial Advisor Council made up of 20 high-level financial professionals, and regularly contributes articles to CNBC.com, and has been quoted in Investment News, the Wall Street Journal, Black Enterprise, Money Magazine, Kiplinger’s and other publications.

...more