From Boomers to Millennials

Magenta isa group of people committed to enriching lives and enabling people to pursue their passions, whatever their age.

We’ve found that younger people – specifically the age group known as ‘millennials’ – have many of the same financial and life goals as some of our older, retired clients.

According to a survey conducted in America by the CFA Institute and Finra Investor Education, most of what we hear about this group when it comes to financial matters just isn’t true:

  • Millennials have unrealistic financial goals. In fact, when it comes to the future, they want to retire at 65 and live comfortably.
  • Millennials are overconfident. When it comes to investing, less than half are confident that they are on the right track.
  • Millennials don’t care about working with an adviser. They prefer to work face to face with an adviser but most don’t think they have the financial resources yet. We are very happy to work with anyone who wants to create a robust plan for their future.

Technology is important to millennials, but so is personal interaction. They want to know who they’re dealing with and developing financial plans that help them to live the best life possible with the money they have, is really every age group’s goal.
In order to help our clients achieve success, we focus on six core competencies:

  1. Organisation: Helping clients to organise all of the different parts of their financial lives—with or without technology.
  2. Accountability: Holding clients responsible for achieving their goals and plans and helping them to prioritise objectives.
  3. Objectivity: We help clients avoid making emotionally-driven decisions by providing a different perspective. Our objective is to help clients make informed decisions, even when emotions such as greed or fear are driving them. 
  4. Proactivity: We are in regular contact with clients to make sure they are on track to reach their goals, can anticipate life transitions, and help plan for the unexpected.
  5. Education: We take time to educate clients and their families about decisions they face rather than moving them straight to a solution. 
  6. Partnership: We collaborate with our clients. We are likely to be some of the most influential people in their lives, sustaining long term relationships and caring about the outcomes of our ongoing advice.

People of all ages want to achieve happiness and security and we can help. If you would like to know more, please feel free to call for a friendly chat.