Millennials are the next generation entering and rising through the ranks of the workforce. Their needs, however, differ distinctly from the Baby Boomer generation that preceded them. In a general sense, millennials are not focused on attaining the same types of goals as their predecessors, namely expensive houses, and cars. Rather, their priorities lie in spending money on experiences, travel, and personal development.
Financial advisors need to be aware of the shifting needs of their millennial clientele and actively think about ways to better help them reach their goals.