Millennial Investor Personas and the Investing Habits of Millennials
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Millennial Investor Personas
As the largest generation since the Baby Boomers, there is no such thing as the Millennial. Millennials are just as varied as any other generation. Spectrem's new perspective will detail this generation of Millennials with $100,000 - $25 million in net worth by identifying the archetypes, or personas, which describe them.
Personas are defined on multiple factors, including:
- Basic demographics (age, gender, education, marital status, wealth and income levels)
- Financial habits and practices
- Needs and concerns in relation to financial advisors
- Wealth and current portfolios
- Personal and national concerns
- Personal and social values
- Advisor usage
Investing Habits of Millennials
The Millennial Generation is unlike any other generation before them when it comes to managing their assets and working with financial service providers. How do Millenials perceive the current investing environment and where are they looking to allocate their assets? What providers appeal to their unique financial needs and expectations? This Perspective will examine how this increasingly important demographic makes investment decisions, how they invest their money, and how financial professionals can best service Millennials based on those preferences. It will contain insight from ongoing Spectrem research with Mass Affluent, Millionaire and UHNW investors.