Untapped Potential: The Importance of Attracting Gen X Clients for Financial Advisors

As a financial advisor, tapping into different client demographics is crucial for building and maintaining a successful financial practice. While most firms’ primary focus is on Millennials and Baby Boomers, there is a significant untapped market that is often overlooked: Generation X. In this blog post, we will explore how to get clients as a financial advisor with strategies to effectively attract Gen X clients and grow your financial advisory firm.

Generation X | Financial Terrain

Born between the mid-1960s and early 1980s, Gen X represents a sizable demographic with unique financial needs and opportunities. To successfully target Gen X clients, you’ll need to develop a clear understanding of their financial landscape, long-term goals, and challenges. Unlike the preceding Baby Boomers and the succeeding Millennials, Gen Xers have faced unique economic circumstances, including three economic recessions, increased financial responsibilities, and constantly changing employment dynamics.

Key insights to consider:
  • Financial Priorities: Many Gen Xers juggle multiple financial responsibilities, such as saving for retirement, funding their children’s education, and caring for aging parents. Recognize their need for comprehensive financial planning that addresses these various priorities.
  • Tech-Savvy and Self-Reliant: Gen Xers grew up during the rise of technology and are familiar with digital tools and platforms. They appreciate self-service options, online access to information, and on-demand, digital platforms for financial planning.
  • Seeking Long-Term Stability: Having experienced the results of economic volatility, Gen Xers value stability and long-term financial security. They seek retirement planning, investments, and risk management guidance to achieve their financial goals.
  • Generational Wealth: Experts predict that Gen Xers and millennials will control 47% of the total wealth in the United States by 2030.

Generational Wealth Gap 2022

Subscribe To Our Newsletter

How to Get Gen-X Clients as a Financial Advisor

Now that we have insights into Gen X’s financial landscape, and have a clear understanding of the importance of this dynamic generation, let’s explore effective strategies to attract and engage this cohort.

1. Tailored Marketing Messaging:

Create and promote marketing content that resonates with Gen X’s financial aspirations, long-term life goals, and challenges in today’s economic climate. Emphasize the benefits of comprehensive financial planning, wealth preservation, and end-of-life planning. Highlight your expertise in addressing their unique needs and concerns.

2. Leverage Digital Marketing Channels:

Tech-savvy and independent, 68% of Gen Xers rely on digital platforms and online reviews for information and decision-making. Establish a strong online presence through a professional website, active social media profiles, and engaging content. Utilize targeted digital advertising to reach Gen X clients actively searching for financial advisors.

3. Embrace Personalization:

Customize your marketing approach by delivering content demonstrating an understanding of their financial goals, life stage, and unique circumstances to provide Gen Xers with a more personalized experience. Leverage comprehensive technology to collect and analyze client data, enabling you to provide tailored recommendations and solutions.

4. Provide Comprehensive Financial Planning:

Gen Xers often have complex financial situations and diverse priorities. Position yourself as a trusted advisor who can address all aspects of their financial lives. Offer comprehensive financial planning services that prepare your Gen X clients for the future. Create and maintain their life legacies with an affordable, easy-to-use, all-inclusive, service.

5. Networking and Referral Programs:

Leverage your existing client base and professional networks to expand your reach – encourage your satisfied customers to refer their Gen X family members and friends to your services. 

6. Emphasize Technology and Convenience:

Gen Xers appreciate streamlined, tech-driven solutions. Offer online client portals for account access, financial tracking, and document sharing. Provide mobile apps for easy portfolio monitoring and goal tracking. Utilize video conferencing for remote meetings and consultations to accommodate their busy schedules.

Generation X – Conclusion

As a financial advisor, recognizing the untapped potential of Gen X clients can significantly contribute to the growth and success of your firm. By understanding Gen X’s financial landscape, adopting tailored marketing strategies, leveraging digital channels, and providing augmented service offerings, you can capture the trust and attention of this valuable demographic. 

Take the time to understand the unique needs of this dynamic generation, build long-lasting relationships with Gen Xers, and establish a strong foundation for your financial advisory business. Contact our team today to learn more about estate planning solutions and how your firm can benefit.

Looking for more ways to solidify client relationships, increase revenue streams, and establish yourself as an essential part of your client’s financial future? Download our free guide! 

Financial Advisor Marketing Guide


6 Ways to Accelerate Your Financial Advisor Marketing Plan

As a financial advisor, you know that the industry is highly competitive. To stand out in this crowded marketplace, it’s essential for you to create a strong financial advisor marketing plan that sets your firm apart from its competitors. This article will explore six creative and innovative ways to help attract more clients while providing exceptional value to your customers and your firm.

1. Host a Podcast: 

Podcasts are becoming an increasingly popular way to reach audiences and establish yourself as a thought leader in the industry. By creating a podcast that covers relevant financial topics and features expert guests, you can provide valuable insights and advice to your listeners while showcasing your expertise as a financial advisor.

2. Create Interactive Content: 

Interactive content, such as quizzes, calculators, and assessments, can be a fun and engaging way to educate your audience and generate new leads. By creating personalized and creative content that speaks to your client’s specific needs, goals, and challenges, you can further demonstrate your commitment to providing tailored solutions that benefit your clients.

3. Use Video Marketing: 

Video marketing is a powerful tool for anyone looking to connect with their potential buyers on a more personal level. By creating and promoting video content that showcases your services and expertise in a way that’s easy to understand, you can build trust and credibility with your viewers long before meeting them. 

Subscribe To Our Newsletter

4. Leverage Benefit of Services: 

Embrace your new or more modern style of service offerings and how they are designed to benefit your clients. After all, there are numerous benefits to working with an advisor, and helping your clients achieve long-term financial success is only the beginning. For example, financial advisors who incorporate estate planning services into their offering stack enable their clients to create a will, trust, or other estate planning documents from the comfort of their homes. This expands their reach while providing clients with a simple and effective way to secure their financial future.

5. Engage on Social Media: 

Social media platforms like LinkedIn, Twitter, and Facebook, can be incredibly valuable for reaching potential customers and building awareness around your brand. By creating a solid social media presence, engaging with your followers, and sharing industry news and insights, you can increase visibility, expand your reach, and establish yourself as a reputable and trustworthy advisor.

6. Offer Free Workshops: 

Hosting a free workshop or seminar is a great approach to providing value to your clients and prospects while showcasing your expertise. By offering educational and informative sessions on relevant financial topics, you can attract qualified leads and foster stronger relationships with your clients. Using a video conferencing software solution enables you to simplify the meeting process and create a personalized experience from start to finish. 

Popular Video Conferencing Software Solutions

How a Strong Financial Advisor Marketing Plan Benefits You and Your Clients

By creating a financial marketing plan that targets key audiences with engaging and creative content styles, provides multiple avenues to engage, and promotes your new selection of services, you can accelerate your success, boost revenue, and provide your clients with the benefits they deserve. 

Looking for more ways to solidify client relationships, increase revenue streams, and establish yourself as an essential part of your client’s financial future? Download our free financial advisor marketing guide! 

Financial Advisor Marketing Guide