Intelligence

U.S. News & World Report: Preparing For the Millennial Wealth Transfer

Lou Carlozo, an investment contributor for U.S. News and World Report, is working on a story about preparing for the millennial wealth transfer (from boomers to millennials). It’s one of the biggest (yet largely unreported) stories in the investing world. And we need your help to get it right. We’re asking for your replies VIA EMAIL by 3 p.m.Eastern on Friday, July 14. Here are some questions to consider. 1) What are some statistics on the wealth transfer, or millennials that should give investment professionals pause? 2) How can boomers best prepare their millennial children and inheritors for the transfer, rather than just handing assets over to them? 3) Since millennials tend to be distrustful of financial advisors in general, what are some ways that professionals can approach them and win their trust? (family connections for example). 4) To what extent can roboadvisors, investing apps and online services work well for them–and where might they fall short? 5) Millennials crave human contact and advice. Are there some great points of advice to give to this demographic as the wealth transfer begins? 6) Anything else to add? Ideally, about a full paragraph or more per question is ideal. Finally: Your own personal experiences are especially welcome. Please put MILLENNIAL TRANSFER in the subject line, all caps, and include the title of the person commenting and where they are based. Thanks in advance for your help!