This document discusses strategies for reaching high net worth millennials through online channels. It notes that millennials will inherit $41 trillion in assets by 2052 but few work with financial planners. While misunderstood, millennials are entrepreneurial, self-reliant, and cynical of advertising. The document recommends expanding an existing financial brand's online presence through educational videos, mobile apps, online account access, and social media to better understand and serve millennial clients.

1. Big Block Industry
Reaching High Net Worth Millenials Through Online Channels

2. Understanding the Target
• Generation Y – defined as being born in between 1978 and
1998
• Will inherit $41 trillion in assets by 2052
• Fewer than 30 percent of high net worth ($5mm to $25mm)
work with a financial planner (Millionaire Center Survey, 2010)

3. Understanding the Target
• Characteristics of Millenials
– Entrepreneurial
– Self Reliant
– Cynical to Advertising

4. Understanding the Target
• Common misunderstandings:
– They want everything online
Apple v. PC

5. Understanding the Target
• Common misunderstandings:
– They want brands to be “young” like them. Trustworthiness
doesn’t matter.

6. So what does this all mean?
• A brand does not have to be like a millenial…a brand simply
has to UNDERSTAND a millenial.
• Raymond James Brand does not have to be rebuilt, rather it
simply needs to EXPAND.
– New marketing channels
– New marketing tools for reps
– SAME message!

7. New Online Channels: Brand Level
• YouTube Educational Series
SEOMoz Whiteboard Friday
70% of wealthy millenials watch 100
minutes of online video per week or
more
• Mobile applications (phone and tablet) (70% of wealthy millenials own a
smartphone, 32% own an iPad)
• Web applications that allow changes to accounts
Data Source: Luxury Institute Survey, 2011

8. New Online Channels: Brand Level
• Media buys in digital editions of publications traditionally
aimed at high net worth individuals
• Search Engine Marketing
• Exclusive social network for RJ clients to discuss strategy
and get questions answered

9. New Online Channels: Rep Level
• Online appointment booking with reps
• Rep should be notified and involved when changes are
made to accounts online
• Email relationship tools
• Reps encouraged to publish articles, distributed through
content networks and blogs

10. New Online Channels: Rep Level
• Search reputation management for reps
• Reps should all have social media profiles to interact with
clients.
“You are not my friend in real life until you are my friend
on Facebook”
• Financial Planning with millenials should be collaborative

11. What Millenials Want
The most important brand attributes to high net worth
millenials are:
• SIMPLICITY
• SPEED
• CUSTOMIZATION
• SOCIAL AWARENESS
• EXCLUSIVITY