Be the change you want to see in the world. – Mahatma Gandhi
While Gandhi’s famous quotation has inspired people of all ages, it especially speaks to the millennial’s pragmatic spirit. As an “older” member of that generation, I know first-hand. This philosophy encourages me and guides my career path.
Millennials walk the line between optimism and realism. We want change and we understand that results come from hard work. While millennials are often derided for their dependence on technology, they can also use it to their (and your) advantage. Many millennials positively impact their communities by leveraging the communication benefits that come from being logged-on all the time.
I co-founded my firm, IronBridge Wealth Counsel LLC, to focus on serving those who serve others. In addition to Gandhi, I am influenced by my father. As the son of a law enforcement officer, I saw the daily commitment he made to the community. When I decided to pursue a career in financial services, I always knew that I wanted to work with people like him.
I like knowing that my work can make a lasting impact on others’ financial lives — that I can “be the change I want to see in the world”. Every day, we at IronBridge are excited to work with engaged individuals, companies and institutions that want to use their assets to bring their vision to life. We support them by supplying intelligent, creative strategies for their financial challenges and providing the support necessary for thoughtful, purpose-driven action.
Having a good mentor is paramount to building a foundation for an aspiring financial advisor. As the median age of financial services professionals continues to climb, now is the time to prepare the next generation of financial services professionals. Whether you are considering hiring new advisors to your team or thinking about succession planning, here are a few things to consider:
Communicating with millennials
1. INVITE THEM IN
Millennials are a well-informed generation. Countless hours in front of a screen allows them to digest mass quantities of data at a time, but nothing gets noticed more than an old-fashioned invitation. While it does not have to be overly formal, the personal connection that comes with a direct invitation can make the opportunity to meet more exciting for a millennial.
2. SHARE YOUR STORY
What inspired you to pursue a career in the financial services industry? Sharing your background with younger colleagues personalizes your relationship and gives them a deeper understanding of your mission and values. If you are considering hiring them, this can also be a good time to vet them and see if their goals align with those of your firm.
3. FOLLOW UP
After your initial conversations with a millennial advisor, consider following-up to check on the status of any action items you discussed. While it may be more prudent and traditional for them to check-in with you, they will greatly appreciate your efforts.
Bridging the generational gap between senior advisors and new professionals is very important to the industry. The success of a firm depends on newcomers being able to fill the shoes of retiring advisors, and the likelihood of that largely rests on their foundation. While you might be able to share your expertise in building a client base and providing first-class service, your millennial contacts can provide valuable innovative insight into optimizing client relationships and possibly attracting the next generation of clientele. If we all do our parts, we can “be the change,” and work together to better support a more successful financial future for our firms and clients.
ABOUT THE AUTHOR
Shane Morrow, CFP®, CIMA®, CAIA
Shane is a Managing Partner at IronBridge Wealth Counsel, LLC, a premier fee-based wealth management firm. He is primarily responsible for the strategic direction and future growth of the firm, as well as leading the investment management division.
Shane is a CERTIFIED FINANCIAL PLANNERTM Professional and a Certified Investment Management Analyst®, as well as a member of the Chartered Alternative Investment Analyst Association®. In addition, he is a Level II Chartered Financial Analyst candidate. Shane’s FINRA registrations include Series 7, 24, and 66.
Shane Morrow is a registered representative of Lincoln Financial Advisors Corp., a broker-dealer (member SIPC) and registered investment advisor. IronBridge Wealth Counsel, LLC is not an affiliate of Lincoln Financial Advisors Corp.