Earn tomorrow’s clients

Earn tomorrow’s clients

The clients you serve tomorrow will be different from those you serve today. BlackRock can help you earn tomorrow’s clients and build your business for the future.

Tomorrow’s clients

01

Retiring investors

51% of advisors’ clients are 60 or older – in or approaching retirement.1 They are looking for a partner to help them navigate this new world of retirement income, longevity risks and changing purpose.

02

Emerging investors

Millennial wealth reached $9.1T in 2021,2 yet investors under age 40 represent only 9% of advisors’ clients.1 These emerging investors want to engage with advisors who understand their different values, fears and needs.

03

Diverse investors

Beyond age and generation, changing demographics will layer cultural complexity onto financial needs. Diverse investors tend to seek advisors who ask questions, listen actively and solve problems together.

Earn retiring investors
As your clients transition from savers to retirees, they will look to you for advice as their needs change. Build a network of trusted professionals, including attorneys and long-term care consultants, to help your clients maximize their wealth and well-being throughout retirement.
Connect with retiring investors
Earn emerging investors
Emerging investors – largely Millennials and Gen Zers – present a significant opportunity for business growth. To better engage with this next generation of clients, you will need to understand their preferences and values such as digital solutions and ESG investments.
Connect with emerging investors

Engage diverse investor communities

35%
of global wealth will be held by women by 2025

More wealth will be held by women. In 2016, women held 31% of global wealth. This rose to 33% in 2020 and is expected to reach 35% by 2025.

20.8%
of Generation Z identifies as LGBTQ+

More of tomorrow’s clients will identify as LGBTQ+. Only 2.6% of Baby Boomers identify as part of the LGBTQ+ community. Compare this to 4.2% for Gen Xers, 10.5% of Millennials and 20.8% of Gen Zers.

48%
of Generation Z are not white

Tomorrow’s clients will be more racially diverse. While only 18% of Baby Boomers are not white, the equivalent statistic for Gen Xers is 30%, for Millennials is 39% and for Gen Zers is 48%.

UBS, “Women and investing: Reimagining wealth advice,” 2022; Gallup, “LGBT Identification in U.S. Ticks Up to 7.1%,” 2022; Pew Research, “On the Cusp of Adulthood and Facing an Uncertain Future: What We Know About Gen Z So Far,” 2020.

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Earn women investors
Women control 51% of U.S. wealth today.3 Many are solely responsible for their finances or the breadwinner for their family. Yet many say they feel patronized by advisors. Connecting with women investors – whether they are new clients or spouses of existing clients – can help build trust and retain assets through generations.
Connect with women investors
Earn LGBTQ+ investors
The LGBTQ+ community holds about $6.9 trillion in the U.S. but remains underserved by the financial services industry.4 Recognizing their needs and some of the unique challenges they face, including discrimination, higher healthcare costs and less family support is critical to earning their trust.
Earn LGBTQ+ investors
Earn Black investors
Black investors hold roughly $6.3 trillion of wealth in the U.S.2 Many are under-invested and have more college debt compared to their white counterparts. Understanding their challenges and embracing their experiences is an important first step to building relationships with them.
Connect with Black investors
Earn Hispanic investors
Wealth in the Hispanic community has increased at a rate of 11.2% per year over the last 10 years.5 Appreciating how culture impacts the way Hispanic clients invest their money will be key to earning their trust.
Connect with Latinx investors
Prepare for tomorrow’s clients
Liz Koehler, Head of the USWA Advisor Insights team, discusses the need to think about who your clients of tomorrow will be and to start to take small steps to prepare your practice to engage them proactively. Embracing a relationship-driven mindset will be key to earning the trust of tomorrow’s clients.
earn tomorrows clients
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Demonstrate value as a financial coach
Employ active listening and deeper conversations to build loyalty.
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Build a diverse team
Ideally, your team represents your current or goal client base.
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Embrace technology
Leverage innovation to be more efficient and provide deeper, more personalized service.
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Fortify your partner network
Expand beyond attorneys and CPAs based on the clients you are targeting.