The fact is, without a truly robust and distinct Gex X marketing strategy, advisors will have a hard time competing with large “robo” firms for high-net-worth Gen X clients. While Gen Xers aren’t digital natives, they are using technology and self-directed, discount brokers.
While advisors began working with boomers in their 40s and are now reaping the rewards of those relationships, the same is not true of the Gen X generation, age 45 to 55.
Wooing Gen Xers can be tougher than it sounds, Graham said. The cohort tends to be skeptical and pessimistic, based on the financial events that have informed their experience—including the tech and real estate bubbles, Wall Street’s meltdown and the potential demise of Social Security.