This younger generation is different. It’s more loyal. It’s more involved with its own future. And many wirehouses are jettisoning these smaller accounts as they chase after bigger assets. That leaves independent advisors waiting in the wings to form valuable relationships now.

 

TD Ameritrade Institutional’s new president Tom Nally is rallying advisors to take on these younger investors. A Cerulli report issued in April says that wirehouse market share declined 11% between 2008 and 2011.

 

As pounded out in numerous other posts here on A4A, Nally notes that the only way to reach these investors is to speak their language. They won’t listen to you, otherwise. Adding junior advisors to your team can double the effect since younger investors will naturally gravitate to someone closer to their own age.

 

It’s the perfect setup for succession later and for business growth now. By the time these younger investors get the larger assets they are projected to receive, your team will already have formed solid relationships with them. So your business will be worth more and the now junior advisors on your team will be well seasoned—and well prepared financially—to make the transition a smooth one as well as a lucrative one.

 

Having younger advisors on your team can also help you develop your social media prowess. That's a perfect mechanism for building solid junior partner relationships. And one that should pay off immediately in higher revenues.

 

Add the women's market to your strategic focus and you have two sea-change level events to take advantage of. So, the only way you can fail to grow your business in today's world is to maintain the status quo. What do you think?