Sponsored by
As the financial industry braces for an impending wave of retiring financial professionals, it becomes increasingly imperative to engage younger audiences and cultivate a new generation of financial professionals.
One way to do that? Start meeting the next generation where they are.
That’s exactly what Axtella – a network of firms based in Ann Arbor, Michigan – has set out to do. Maria Bethel, Senior Vice President of Marketing and Communications at Axtella, said: “Attracting the next generation to wealth management is more than just talk; it demands authentic engagement and meaningful planning and effort.”
So how does Axtella plan to reach this next generation of professionals? Through educating new talent on common industry myths and exerting a willingness to innovate within company culture.
The biggest myth to tackle first is that industry professionals aren’t just number crunchers: “We haven’t effectively communicated the deep impact and personal fulfillment that careers in our industry offer young professionals,” Bethel explained.
She and the network of firms believe that these younger demographics have perceptions of the industry that start and end with Wall Street suits – which does not effectively demonstrate how broad the scope of financial wealth management and investment management really is.
Bethel elaborated: “Our conversations and messaging spotlight how a career in financial services involves making genuine human connections, understanding the financial and personal nuances of people’s lives, and creating significant impacts – not just for our clients and their families, but also for the communities we serve.”
One overlooked facet of the financial professional role is that they serve as catalysts for turning dreams into tangible realities, helping enable clients to achieve their financial goals and aspirations. This sentiment resonates deeply within the industry. A recent Cerulli report showed that 4 out of 5 new financial professionals cited their primary motivation for entering the field was their fulfillment from helping clients realize their dreams.1
“To attract the next generation, we need to showcase that being a financial professional means actively participating in clients’ lives, celebrating their successes, and supporting them in difficult times,” Bethel explained.
Beyond dispelling industry myths through educational initiatives, Axtella is also focused on creating and promoting a culture that aligns with all generational values – including millennials and Gen Z.
“We have to clearly communicate that we value innovation, welcome new ideas, and offer opportunities for impactful contributions,” Bethel stated. That includes mentorships to bridge knowledge gaps, and creating new roles to allow younger professionals’ voices to be heard.
By embracing change and educating the next generation, Axtella’s hope is that the financial industry can position itself for sustained growth and relevance in an ever-changing landscape while doing what the industry has always done best: creating significant impact for clients, their families, and their communities.
Bethel concluded, “By actively reaching out and connecting with young people looking for a rewarding career path, we not only secure our industry’s future but also open doors for a new wave of professionals to discover a fulfilling career that truly makes a difference.”
1 Cerulli Associates, Asset and Wealth Management Report, https://www.fa-mag.com/news/the-financial-advice-industry-has-a-rookie-advisor-problem--report-says-73708.html
Advertisement – For financial professional use only
Sigma Financial Corporation, Member FINRA/SIPC. Parkland Securities, LLC, Member FINRA/SIPC. Sigma Planning Corporation, A Registered Investment Advisor.
