There’s a group of investors in the United States that holds nearly $27 trillion in assets. As life insurers, it’s to your benefit to get to know them—and their behaviors. Accenture surveyed Generation D investors—Millennials, Gen-Xers and Boomers who increasingly depend on digital interactions. In the next three weeks, I’ll share some of the significant findings from our research, but first, let’s get to know Gen D.
An emerging—and important—investor group
Accenture research revealed the following facts about Gen D investors:
- There are more than 75 million digital-savvy investors, representing 44 per cent of the US population.
- Gen D members typically use multiple devices in a given week to manage financial accounts, look up investment information and pay bills.
- An estimated $30 trillion in assets will shift from Baby Boomers to their heirs over the next 20 to 30 years. Accordingly, 40 percent of Millennials are determined to pass along wealth to their families, compared to 25 percent of Boomers and Gen-Xers.
Gen D clients represent a significant opportunity for life insurers who will benefit by developing strategies for working effectively with these investors. But a one-size-fits-all solution won’t do. Providing retirement products that meet investors’ needs will only work if life insurers understand the noticeable differences between each of the investor age groups. Join me next week when I take a closer look at these differences in attitudes.
To learn more about Gen D investors, download Generation D: An emerging and important investor segment (pdf; opens in a new window).