BISA Magazine - Quarter 1, 2017 - 12

financial situations so it's a good opportunity for younger advisors to take
on new clients.

The case for technology
Incorporating technology, such as
collaborative tools, is another way for
advisors to build stronger relationships
with clients. When family members
have access to their accounts in real
time, for example, the engagement
process is "no longer single-threaded
through just that CFO spouse," Ozer
explains. "We can really engage everybody." And for the younger, more
tech-savvy generations, the use of tech
is often "a preferred way for them to
participate."
BB&T's Borrello says technology tools,
such as automated access to information and mobile apps, have become
an increasingly important way for the

12
www.bisanet.org

bank to be responsive to the needs of
its client base. He's quick to add that
the appeal of these tools is not limited
to the younger generation. "It's surprising the number of folks in their 50s,
60s, and 70s that are computer-literate
and using mobile apps," he notes.

Improve that first
impression
Cam Marston, founder of the firm Generational Insights in Mobile, Alabama,
says advisors are losing out on the
transfer of family assets because they
assume, "If I do business with their
parents, the children will naturally follow." Another mistake is they think the
"pitch" used to win over the parents
as clients should go unchanged for the
next generation-their children. "They
have not changed the nature of their
appeal for the next generation."

Marston suggests several ways to make
inroads with the next generation. First,
advisors should be visible to the nextgen and be relevant to them at an early
age so they are not "strangers."
Another important element is to create
an interesting and appealing online first
impression. Marston notes that children
of the baby boom generation are in
their 20s and 30s today, and their first
move in determining whether they want
to work with their parents' advisor is to
conduct an online search. "They're going to enter their (advisor's) name in a
search bar and see what comes up."
What younger prospects want to see is
"not a stable, predictable, historically
successful person, but an interesting
person that the next generation would
like to get to know," Marston says.
Their professional bios should reflect
their personality, and include information about their hobbies and how they
donate their time to their community.
https://www.standard.com/ http://www.bisanet.org
Table of Contents for the Digital Edition of BISA Magazine - Quarter 1, 2017
