Wealth Managers are struggling to retain Millennials and Women. Although, socially responsible investing is gaining momentum, Millennials and Women present a valuable niche.

1. Socially Responsible
Investing (SRI): Wealth
Manager’s path to
Millennials and Women
Ramis Jamali, CFA
September 2017

2. 2 Ramis Jamali
At a glance
By adopting a value based approach and including SRI options in client discussion, advisors can capture a
significant portion of this underserved market.
Both, Millennials & Women, are value driven and consider socially responsible investing an important part of
their portfolio and expect their advisor to be knowledgeable about SRI.
However, they are underserved and dissatisfied, resulting in significant attrition and loss of business for
advisors.
Millennials and Women comprise a significant segment for wealth managers and their prominence will continue
to grow.

3. 3 Ramis Jamali
31% 32%
35%
0%
5%
10%
15%
20%
25%
30%
35%
40%
Baby Boomers Gen X Millennials
Millennials lead the way
They not only comprise the largest segment of the workforce but also will inherit a significant sum
Millennials’ participation
will continue to grow.
1. Statistics Canada. Table 282-0002 - Labour force survey estimates (LFS)
2. Wall Street Has Its Eyes on Millennials' $30 Trillion Inheritance. Bloomberg, March 3, 2015
2016 Canadian Labour Force by Generation1
The largest wealth transfer in the next few decades2
will leave millennials with more assets.
$30 Trillion

4. 4 Ramis Jamali
Women are closing the gap
Higher education has led to growth in labour force participation
Women labour force participation grew
from 24% in 1953 to 83% in 20144.
Women university graduates outnumber men3
[6/10] [4/10]
3. Women and wealth: The investment sector’s new – and crucial –Frontier – Globe & Mail, August 2014
4. The surge of women in the workforce: Stats Canada http://www.statcan.gc.ca/pub/11-630-x/11-630-x2015009-eng.htm#def1
35%
40%
45%
50%
55%
60%
65%
1976
1981
1986
1991
1996
2001
2006
2011
2016
1976 - 2016 Canadian Labour Force By Gender
Men
Women
The gap
continues to
narrow, albeit
at a slower
pace.
52%
48%

5. 5 Ramis Jamali
Women in control
Thanks to higher education and labour participation their financial control will continue to grow
3. Women and wealth: The investment sector’s new – and crucial –Frontier – Globe & Mail, August 2014
5. New Strategies for Nontraditional Client Segments. BCG, June 15, 2016
30%
Current wealth controlled by women in Canada3
$3.2
Trillion
annual growth in their
wealth. 5
7%

6. 6 Ramis Jamali
5. New Strategies for Nontraditional Client Segments. BCG, June 15, 2016
6 Financial advisors are failing women. Strategicmarketin.ca
Unhappy marriage
Lack of empathy and attention is the leading cause for advisors being fired
75%
75% of millennials
leave their advisors
due to customer
dissatisfaction. 5
Dissatisfied
50%
Mystified
50% of advisors have
no view on how to
serve millennials.5
Unhappy
73% of women
are dissatisfied
with their
advisor.6
Fired
80% of women
leave their
advisor.6
The Search
87% of women
cannot find an
advisor who
meets their
needs.6
50% of women believe
men get more attention.
Men are 2X more likely
to be approached.6
Lack of Attention
Millennials Women

7. 7 Ramis Jamali
Value Driven
Both groups are value driven and consider SRI an important aspect of their investments
Digital access is an important consideration
for millennials; they want easy and high
quality access to information5.
70% of millennials want access to
socially responsible investing5.
67% of millennials want their advisor to be
knowledgeable about socially responsible
investing7.
Listening
Customization
Knowledge
Women want their advisors to
listen and understand their values
and needs6.
Women want solutions that fit
their specific needs, goals and
values5.
62% of women want their advisor to
be knowledgeable about socially
responsible investing7.
Millennials Want Women Want
5. New Strategies for Nontraditional Client Segments. BCG, June 15, 2016
6. Financial advisors are failing women. Strategicmarketin.ca
7..Millennials, Women, and the Future of Responsible Investing. Responsible Investment Association, April 2016

8. 8 Ramis Jamali
7.Millennials, Women, and the Future of Responsible Investing. Responsible Investment Association, April 2016
8. 2017 RIA Investor Opinion. Responsible Investing Association, June 2017.
Growing interest in SRI, but
lack of awareness results in lack of action
77% of Canadians
are interested in SRI.8
Of women are unsure about SRI
investing, presenting an opportunity
for advisors.7
35%
Millennials expect to invest in SRI over
the next 5 years7.
81%
Of Canadians have very little or no knowledge of SRI
options.8
73%
Lack of awareness is a barrier

9. 9 Ramis Jamali
10. Investors and Responsible Investing: What advisors need to know. Ethical Funds May 2014
Advisors: the custodianInvestors look to their advisors to initiate the SRI discussion; however, advisors do not take the initiative and leave an
immense opportunity on the table
Value advisors
can add, but…
Only 14% of
advisors have
initiated an SRI
discussion10
Investors would be more likely to choose SRI options if10
:
1
2
3
4
The Advisors suggested a suitable option
They were more confident in their performance
Their financial institution informed them about SRI
If SRI were easier to access

10. 10 Ramis Jamali
SRI in your practice
SRI can be your firm’s path to attract and retain millennials and women
Adopt a value based
approach
Initiate SRI discussion with
clients
Include SRI options in
your practice
Listen and understand
what’s important to them
Returns are not the only
factor
Focus on the relationship
and not the transaction
Develop an SRI knowledge
base
Ensure access to SRI
options are available
Engage in SRI industry
discussions
Ensure there is a value
alignment
Shed light on SRI myths
such as performance
concerns
Suitability is paramount

11. Ramis Jamali
https://www.linkedin.com/in/ramisjamali/
Ramis.jamali@gmail.com
Thank You