As reported by ThinkAdvisor, a recent InspereX survey reveals that financial advisors are overwhelmingly focused on older clients, with 59 percent of their clients aged 60 or older. Advisors report that only 18 percent of their clients are under 50, even though many believe engaging younger investors is essential.

The survey highlighted that most younger clients accumulate their assets through employment rather than inheritance. Nearly 75 percent of advisors reported that younger clients' wealth comes primarily from their jobs, while only 12 percent cited inheritance as a major source of assets. While 60 percent of advisors noted that younger investors seek advice elsewhere, 87 percent still see value in pursuing this demographic.

Younger clients' reliance on social media for investment education surprised two-thirds of advisors. Advisors were also taken aback by how reluctant these clients are to admit they need help with investing and how limited their financial knowledge often is.

Despite that fact, digital marketing techniques remain underutilized. Only a small percentage of advisors use LinkedIn (7 percent), Facebook (5 percent), or social media ads (4 percent) to attract clients. Traditional methods, like direct mail and search engine optimization, also ranked low.

ThinkAdvisor recommends that advisors adapt to meet the needs of younger investors as they accumulate assets and face more complex financial situations. By understanding how these clients learn about investing, advisors can build meaningful relationships that help secure the future of their business.

Financial Advisor Transitions consults advisors nationwide to explore employment transition options and to preserve and protect their practice in any transition that they make.