When it comes to how they acquire wealth, the key factors include “making smart investments,” “hard work” and “being frugal.”
Nearly two-thirds of potentially wealthy millennials were optimistic about their financial prospects.
These millennials represent an attractive group of prospective clients because they are entering peak earning years and accumulating assets, yet most financial firms largely overlook them, says TD Ameritrade.
“Advisors can’t wait until this next generation is wealthy before they start rolling out the red carpet. This transition is happening now,” said Nally.