CEO Eoin Lyons speaks about how tech must be used for next Gen wealth managers
Opal Group chief executive Eoin Lyons pointed out that the dramatic expansion of the middle class in the 1960s and 70s means that Generation X will become ‘generation inherit’ in due course.
“Our parents will have been advised face to face by people they trusted with their finances, but their children have been digitised and expect service to be real time and remote,” he said. “Advisers need to engage with this group in the channels they want to use or their custom will walk out the door with their newly acquired assets.”
Lyons suggested engaging client’s children earlier and digitally. “For example, using tax efficient gifting in areas such as protection insurance – forget about long face to face advice meetings, get on to email and webchat and self-serve technology.”
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