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Breakthrough Growth
2.	Discuss how wealth should be used to achieve the shared family vision.

Bridging the Gap

Each generation operates a little differently than the one before it—from how they communicate to what they value. For most millennials, texting is the preferred mode of communication, while Baby Boomers are more apt to call someone on the phone. At many advisory firms, these seemingly small differences have created large disconnects and differences in perception between current leaders and the next generation of advisors. 

The gaps are significant and shouldn’t be ignored. For a firm’s leadership, younger advisors’ weak levels of engagement and different communication styles can impede their performance and development—and ultimately cost your firm the human capital it needs to succeed in the coming decades. There are ways to bridge these gaps and bring the current and next generation of advisors together in a way that benefits both the practice and the advisors’ futures.

But successfully doing so requires knowing what the next gen thinks and what they need. In this report, we outline five serious disconnects between lead advisors and their younger counterparts, and offer actionable advice to help find common ground.

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Breakthrough Growth, LLC is a joint venture between The Collaborative and Purpose Consulting Group. Established by two industry veterans to meet the need for effective hands-on resources to accelerate productivity of the next generation of advisors and their leaders.  

Christine Gaze is president of Purpose Consulting Group, a practice management consulting firm that works with financial services leaders to develop strategies and thought leadership programs that engage and advance financial advisors.  In the last 20 years, she has held a variety of leadership roles in practice management and human capital at firms such as Merrill Lynch, Morgan Stanley, AllianceBernstein and TD Ameritrade.  She is a frequent speaker, avid researcher, and writer.

Beverly D. Flaxington (The Human Behavior Coach™) has spent more than 25 years in the investment industry as a sales and marketing expert, corporate consultant, college professor and Gold-award winning author She has been quoted in hundreds of media outlets, including the Wall Street Journal, and USA Today. Her latest bestselling book is titled Understanding Other People: The Five Secrets to Human Behavior.

Next: A Question of Engagement

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