From Boomers to Gen Z: A Financial Advisor's Guide to Multi-Generational Marketing

The financial services industry isn't a one-size-fits-all game. Different age groups have distinct financial goals, risk tolerances, and preferred communication styles. As a financial advisor, it's crucial to tailor your marketing strategy to resonate with each generation. 

Looking for a quick overview of the most common issues and approaches for each generation? Read on.

Understanding Your Target Audience 

• Baby Boomers (born 1946-1964): This generation is nearing or in retirement. Their focus might be on wealth preservation, maximizing Social Security benefits, and ensuring a comfortable retirement.
• Gen X (born 1965-1980): Juggling careers, children, and aging parents, Gen X prioritizes debt management, college savings for their kids, and planning for their own retirement.
• Millennials (born 1981-1996): This tech-savvy generation is interested in building wealth, paying down debt, achieving financial independence, handling the costs of a growing family, and navigating the complexities of the gig economy.
• Gen Z (born 1997-2012): Just entering the workforce, Gen Z is focused on financial literacy, budgeting, and saving for future goals like travel or a home purchase.

Crafting Your Message

• Baby Boomers: Emphasize security and stability. Highlight your experience and expertise in managing retirement portfolios and estate planning.

• Gen X: Focus on practicality and balance. Showcase your ability to help them juggle multiple financial priorities and navigate life transitions.

• Millennials: Speak their language. Utilize social media platforms, short-form video content, and infographics. Address their concerns about student loans, building wealth, and responsible investing.

• Gen Z: Prioritize education and accessibility. Offer free financial literacy workshops or webinars. Promote your use of financial technology tools. 

Choosing the Right Channel

• Baby Boomers: While some are tech-savvy, traditional marketing methods like print newsletters, seminars, and community events can be effective. 

• Gen X: They're comfortable with both digital and traditional channels. Utilize email marketing, webinars, and targeted social media advertising.

• Millennials & Gen Z: Dominate the digital space. Reach them on social media platforms like Instagram, TikTok, and YouTube. Offer educational content and host interactive online events.

Building Trust and Relationships

Regardless of age, building trust is paramount. Showcase your qualifications, certifications, and client testimonials. Be transparent about fees and services offered.

If you are looking to leverage outside expertise in your prospecting and marketing, schedule a call with our team here. We’ll show you how to use Stonewood Financial books, automated webinar recordings, and more to communicate critical issues to your clients - at every age.

Remember

• Valuable content is vital: Create valuable, informative content that addresses each generation's specific needs. Offer free consultations or downloadable resources, such as Stonewood Financial’s 5 Ways Taxes Could Rise brochure. (Request a sample here.)

• Personalization is key: Segment your email lists and social media audiences to deliver targeted messages that resonate. Customize the messaging, experience, and data to them. 

• Be genuine and approachable: Don’t be afraid to let your personality come through. Show potential clients that you're a real person who cares about their financial well-being. Check out this “Behind the Brand” campaign we rolled out on our social media- it gave our followers a better idea of who we are and what we do at Stonewood Financial. 

No matter what age of client you’re targeting, it’s key to understand their unique needs, concerns, and communication preferences. You’ll be better able to bring value to them as clients - and grow your practice to serve them.