Millennials Making Over $200k Still Broke: Financial Advisor Messaging Tips (Modern Wealth)
InvestmentNews published: “Millennials making $200k are still broke—here’s why” last week. It ties into three things I see as related and key for effective modern messaging in financial services:
- Apple TV+ hit show “Your Friends and Neighbors” starring Jon Hamm — why do you think yet another show about over-leveraged lifestyles and their fallout is a hit?
- Advisors and writers are succeeding with updated messaging about the real meaning of wealth (is it time? freedom? flexibility? legacy?) Example: Rubin Miller, CFA at Peltoma Capital Partners has tagline “Ease, Comfort, & Time” — for many people, this beats “Retire well” or traditional retirement / someday messaging. Samuel Deane featured in the InvestmentNews piece gets it too.
- An opportunity for providing better advice around estate planning and generational wealth to have greater impact now & ongoing vs later & one-time.
The new approach is like coaching people toward mindful eating and enjoyment in moderation, rather than restriction that ends in binging 🍕pizza & cake in a fugue state on cheat day.
This video clip is the first 2 minutes of the 9-minute podcast. Listen to the rest for the tips and messaging takeaways for financial services marketing.
