Winning over millennials

Winning over millennials

The typical UK investor may be greying and middle-aged, but if asset management firms wish to survive, they must woo the next generation.

This is not just about tweeting. In fact, according to a BNY Mellon/Saïd Business School study, firms need to rethink social media altogether. It is a common assumption that social media will become more important for financial services firms. Indeed, the Financial Conduct Authority is so convinced of this it has recently issued guidelines designed to prevent fund managers blurring advertising and advice. But less than 1% of the ‘millennials’ – those born after 1980 – surveyed want financial services firms to connect with them through social media. Instead, they told the study’s resea...