What Millennials Think About Financial Leadership

Understanding how young people view leadership and their own position in the workplace can be valuable. Millennials are finally reaching the point where they need the assistance financial professionals can provide, meaning existing professionals must take steps to engage this younger generation.

What millennials think about leadership

Millennials generally have a very high opinion of their own abilities and believe that leadership is a collaborative affair. This matters immensely in the workplace, but it can also inform how financial professionals sell to younger consumers.

According to a survey from WorkplaceTrends, the majority of millennials already believe they have the skills necessary to lead, and they emphasized building relationships as the most important trait for people in leadership roles. That’s telling, because it points to how millennials understand leadership.

The majority of the group surveyed said that being a leader meant “empowering others.” This speaks to a collaborative view of professional relationships. Current leaders in the financial professional world who are working with younger producers should keep this in mind, as it can provide insight into how best to work with millennial clients.

Young people are independent

Despite a desire for collaborative leadership in the workplace, young people are independent. Rather than being given explicit guidance on how to manage their money or plan for retirement, they seem to want to work alongside a partner who will inform them about different financial options. According to a study conducted by research firm Convergex, millennials want to work with financial professionals who provide clear and transparent communication through channels they are comfortable with, including online platforms.

That highlights the need for financial professionals to work with younger producers who can help them reach out to high net worth millennials and build relationships that will expand client bases into the future.

Working with millennials is important, and financial professionals must meet the next generation on its own terms.

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Highland Capital Brokerage

Highland Capital Brokerage

Highland Capital Brokerage is committed to developing client-focused relationships with financial advisors using our core competencies of life insurance, annuities, and long-term care. We distinguish ourselves by providing point-of-sale support, advanced marketing, and creative estate and business planning techniques.
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