Advisers need to look beyond the stereotypical client and reach out to a more diverse range of people, Fox and Hare adviser Glen Hare says.
By targeting one demographic – wealthy, middle-aged men – advisers are stopping potential clients from understanding the value of advice, Hare says.
“Because the industry has been so focused on the white, pale male with the bags of money, the ideal client for the next generation doesn’t really know when it’s the right time to seek advice,” Hare explains. “The profession has never reached out to them, so they don’t really know what an adviser does because the profession hasn’t spent any time educating them.”
Read more insights from our experts
“I didn’t want to be just OK.”
“Women, especially unmarried women, are often told they shouldn’t dream big. We’re told that we should stick to what’s ‘manageable’, ‘realistic’ or ‘believable’ and...
Luke & Helaina found out they were pregnant. Then they lost their home.
“You’ve given our family a real Christmas and we’ll never forget it.” Luke is a husband, father of two and dog dad to one...
Lessons Learned: How Boomers Built Wealth (& How Young People Can Too).
The boomers have ruined it for us all. Or so the narrative says. The older generation has not only hoovered up the nation’s properties,...
Tim and Sasha always knew they wanted to be Dads.
“But gay couples can’t just have a child suddenly, right? It takes years of laser precision and planning. Everything must go right for us...
How one man got into (and out of) $130,000 credit card debt.
“I was in my early twenties and earning $70,000 as a call center team leader. One Monday I decided I was going to Thailand...