Intersections Seventh Edition

Wealth Management Product Development for Millennials by Millennials

That’s right, we decided to go to the source and ask Millennials to help design the types of investment products they are looking for and have them tell us what elements the product(s) should possess. This is an “outside in” view.
We started by surveying 50 Millennials from the ages of 21 – 34. Fifty-five percent were be- tween the ages of 21-29; and forty-five percent were between the ages of 30-34. 
Given this breakdown, not unexpectedly, the majority makes less than $100,000 in annual income; however 15% are above the $100,000 threshold, and 2% above $200,000. This of course does not include the money they will be inheriting in the near future from grandparents and parents; estimated at a colossal $30 trillion over the next 3 decades.
A recent estimate by Forbes is that Millennials today “may control an estimated $2 trillion in liquid assets.” Participants represented a cross-section of the USA; with nine regions contributing. The Pacific region dominates with 26% of the participants. To find out more, come and check out the seventh edition.