Gen X: Three Strategies for Financial Professionals to Reach the “Middle Child” Generation

GenX is often overlooked in conversations about financial advisor marketing. Learn two key reasons why you might want to focus your efforts in that direction.

[…], taking the time to understand and connect with Generation X will better prepare you to serve this investor segment and retain their business when wealth transfers occur […]

Gen X is often considered the “middle child” of the generations, sandwiched between two larger groups: Baby Boomers and Millennials. Perhaps that’s why they’re often overlooked in conversations about marketing for financial advisors.

But there are two key reasons why you might want to focus your efforts in their direction:

Here are a few strategies to consider and tactics to help you reach this generation.

1. Connect with the Gen X children of your Baby Boomer clients.

Building relationships with these family members is key, since 80% or more of clients’ children will leave their parents’ advisor. Understanding that many of them might live out of state, you can leverage virtual meeting technology to include them in conversations about family financial matters. Zoom or WebEx are commonly used and familiar to most Gen Xers.

You should also proactively connect with them on LinkedIn and encourage them to follow you on other social media sites where you’re actively participating. Staying connected will familiarize them with your value and expertise, and help build relationships over time.

Be sure to add them to your email database, including them in relevant e-newsletters and outreach.

2. Proactively market to Gen X prospects.

This generation is more tech savvy than their Boomer parents, so incorporating digital tactics into your marketing strategy is critical. Here are a few recommendations:

  • Have a modern website that differentiates your practice and states your value proposition.
  • Leverage social media to share regular updates, information, and thought leadership. 
  • Target your efforts using paid ads on Google and Facebook.
  • Offer virtual education with live webinars and recorded content posted to your website and available on demand.

Pro Tip: LPL Financial advisors can work with Marketing Solutions to enhance your website and implement lead nurturing campaigns aimed at your desired target market.

3. Share content relevant to their life stage and financial needs.

Offering information relevant to their life stage shows you’re prepared to serve this generation. So, get to know their needs and share content to address them through channels like your website, email, social media, and educational events.

What type of content should you share? It might be helpful to consider that Gen Xers are still in their prime earning years and in the market to make large purchases such as homes and cars. However, they tend to be careful spenders, in part because they’re often caring for both children and parents. And many have not set aside much time to prepare for retirement.

Therefore, a webinar on retirement planning or a social media series about caring for aging parents would be examples of relevant information you might share.

Ultimately, taking the time to understand and connect with Generation X will better prepare you to serve this investor segment and retain their business when wealth transfers occur, setting up your practice for long-term success.

Need More Support?

If you do not have the bandwidth to plan or publish your own content, Marketing Solutions is here to help. With Marketing Solutions, a dedicated marketing consultant will work closely with you to understand your business and brand. Then, with your goals and target market in mind, they’ll post relevant content, run your ad campaigns, track and measure your efforts to achieve success, and much more.

Questions and Consultations

If you have questions or would like to schedule a one-on-one consultation, or if you’d like to subscribe and receive email alerts when new articles become available, contact LPL Marketing Consulting at (800) 877-7210, Option 9, Option 5, Option 1, or email Marketing Consulting.

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Sarah provides custom marketing and social media consultations for LPL Finanical advisors and investment programs. In this role, she consults with and supports clients in effectively marketing their business in today's increasingly competitive environment. View full bio.