With inflation hitting a 40-year high, financial advisors may have a unique opportunity to reach new clients and engage with lost clients.
With inflation rising to a 40-year high, anxiety is heightened within the financial industry. Clients are looking at their retirement accounts and wondering if they are going to outlive their funds. Younger generations are living paycheck to paycheck with the rise of goods and services and are neglecting their savings and investments. These statistics will help you understand the data surrounding inflation and help you educate each generation of investor.
Statistic 1: 71% of retirement age investors believe rising inflation will negatively affect their retirement savings. - CNBC
If you are struggling to set annual appointments with your clients, 2022 may be the year to get their attention. Inflation impacts everyone, and from this data, many investors are worried about their retirement. Use this statistic to open the door of communication with your client base. This could be a good time to start an engagement campaign!
Statistic 2: The S&P 500 index has logged a compound average annual growth rate of 10.7%over the last 30 years. -NASDAQ
If your clients and prospects are worried about the projected 7.5% increase in inflation this year and how that will impact their retirement, historical data like this may help calm their nerves. Start a nurturing campaign that includes social media, email marketing and newsletters to show your clients and prospects that while the short term may be a little scary, investing wisely now can prove profitable for the future (even with inflation).
Statistic 3: 49% of millennials plan or consider working with a financial advisor this year. -ThinkAdvisor
Historically the millennial generation have been overlooked as a profitable client base for financial advisors. However, according to the study in a recent ThinkAdvisor article, millennials are starting to realize their need for financial advice. By hosting a workshop aimed at the millennial generation and the rise of inflation, you could be tapping into an under-represented client base who are just starting to come into their wealth. Don’t let this opportunity pass you by. Now is the time to attract this market.
Inflation is not new, but it is hitting record highs. Too many people are looking for financial advice and many have no clue where to turn. Make sure you get your name out there and show these clients and prospects that they can count on you. If you are looking to generate leads, nurture prospects, and engage your clients – we have a holistic marketing approach, White Glove ONE, that checks all the boxes. Reach out to an Executive Marketing Consultant by phone (844) 949-9497 or visit our website for more information.