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Top FAs Vary Their Speech Based on Client’s Age

December 20, 2016

Financial advisors who want to serve clients in different age groups should learn to tailor their speech accordingly, Investor’s Business Daily writes.

Successfully adjusting one's speech to a particular audience can require modifying volume and tempo, vocabulary and even topics of conversation, according to the publication.

Millennials, for example, “require special treatment,” Investor’s Business Daily claims, because of their addiction to electronic devices and short attention spans.

Jordan Waxman, a certified financial planner, tells Investor’s Business Daily that he tells stories when talking with clients 50 and above but opts for a quick back-and-forth style when advising young professionals. But he says it’s essential to listen and learn how a client speaks first and then follow their cue, according to the publication.

Certified financial planner Deborah Meyer tells Investor’s Business Daily that she uses a more casual approach when dealing with Millennials, who she says are looking for a “friend and confidante.” Older clients, she says, are more interested in technical expertise and the various iterations of what she’s proposing. She also gives older clients more time to consider their choices, she tells Investor’s Business Daily. Young entrepreneurs, on the other hand, make decisions faster, she tells the publication.

But financial advisor James Allen tells Investor’s Business Daily that investment philosophy trumps a client’s age.

Conservative investors have more in common with each other, regardless of their age, than with aggressive investors the same age, he says.

Nonetheless, Allen says it’s still easier to get younger clients to use his firm’s online platform while older clients need to be walked through it, according to the publication.

By Alex Padalka
  • To read the Investor's Business Daily article cited in this story, click here.