Finews - Millennials Force Banks to Rethink

Millennial clients are poised to inherit baby-boomer wealth, which has wide-ranging consequences for the finance industry. This calls for private bankers with an entirely new set of qualities versus their older peers, Michael Welti writes in an essay for finews.first.

Millennials are the generation born between 1990 and 2000. They are between 20 and 30 years old today, and are often in a position to inherit the family assets earned by the baby boomers. Since millennials are also «digital natives», they are also
highly relevant in terms of asset planning and the future structure of families.