Around the Table Episode 5: A Modern Community of Investors

Around the Table Episode 5: A Modern Community of Investors

LPL Financial

It’s no longer business as usual for financial advisors. The changing demographic composition of prospective investors requires advisors to think differently, communicate more thoughtfully, and employ greater empathy.

They’re empowered and more well informed. They’re racially and ethnically diverse. They include a growing number of people from the LGBTQ community. Many are marrying people of races and backgrounds different from their own. The number of them classified as Millennials will soon outnumber Baby Boomers.

They’re today’s “modern community of investors,” and their cultural nuances, preferences and perspectives are driving changes in the financial services industry. In this episode of “Around the Table,” LPL leaders and advisors discuss how advisors can embrace the changes to better connect with an increasingly diverse investor community.

A more thoughtful choice of words is a start. For example, employing forms that ask for information about a “spouse” or “partner” instead of “husband and wife” are more likely to come across as welcoming to certain prospect communities.

Understanding language preferences can make a difference as well. Foreign-born customers may be able to speak English but feel more comfortable discussing financial matters in their native language.

Don’t be left behind. Watch the complete episode to learn more about connecting with a more diverse investor community. Also take a few minutes to learn about the diverse, inclusive culture we’re creating at LPL for our advisors and employees.