As next generation investors settle down, accumulate wealth and build up investable assets, they will become an attractive opportunity for financial advisors. But these Millennials can be easily misunderstood.
“Conventional wisdom has categorized Millennials as ‘entitled’ and ‘lazy’ because they have more than their parents and grandparents did,” says Emily Pachuta, head of investor insights, UBS Wealth Management Americas. “Having witnessed both the technology boom and the collapse of global markets, it has made Millennials concerned, but resilient, and optimistic for the future.”
The most recent UBS Investor Watch survey provides a more realistic picture into the needs of Millennial investors. UBS surveyed 4,165 U.S. investors, which included 1,169 Millennials (respondents ages 21-36).