This slide set was used to present on the topic of next gen wealth inheritors at a recent HNW/Wealth management conference in China. I believe that it's a pivot point where firms must: Adapt or Die--Understand the multi-generational differences between babyboomers and nextgen. Learn how to communicate to attract and engage new UHNW/HNW clients

1. Adapt or Die
How to profit from a
financial services future
that is younger, more
global, more regulated
and more networked.
Second Annual Offshore Financial Investment & Wealth
Management Summit, 16th of January 2014, Shanghai.

2. April Rudin
April Rudin is the founder of The Rudin Group, a
wealth marketing firm that helps financial services
firms attract the high-net-worth clients they deserve.
A recognized expert in UHNW/HNW financial services marketing:
Frequent public speaker for groups such as the Family Office Exchange (FOX), Tiger 21, and
industry conferences.
Frequent contributor to Huffington Post, Family Wealth Report and many other publications on
wealth, next gen and technology.
Chair of HNW Advisory Board for the HFA (Hedge Fund Association).
Member of Advisory Board for PAM (Private Asset Management).

3. Financial services firms face
Regulatory Burdens
Demographic Shifts
Technology Hurdles

4. The Game Plan
Cultivate Next-Gen Clients
Maintain Retirement-Age Clients
Provide Transparency
Invest in Digital Technology and Social
Media

5. Capitalizing on Regulation
Turn integrity, transparency and ethics
into the cultural pillars of your
business—not just in the boardroom,
but among your employees.

6. A Call to Action
“we do it this way because we always
have…”
must be replaced by
“We do it this way because it is the right
thing to do - and we still make money”

7. A Tectonic Shift
Wealth transfer to inheritors thru 2052:
U.S.: $18 trillion
Asia-Pacific: $6+ trillion
98% of inheritors switch advisors.

8. Stuck in the Past
Marketing & services
of yesterday
Marketing & services
of today

9. Golden Oldies
Baby Boomers (Born post WWII to mid ’60s)
Trust in authority
Value reliability, longevity
Belief in experts, specialists
Prefer in-person, local
expertise
Bigger is better
Loyal/reluctant to “disrupt”
relationships
Like to “be served”
Peer advice = word of mouth

10. Kids Today
Gen X & Gen Y(Born late ’60s to mid ’90s)
Don’t trust “suits” post-2008
Smaller is better
Confident, educated
Want transparency in fees,
reporting
Global/mobile and technology
oriented
Value community, authenticity
Like to have “self-serve” option
Peer advice = social media

11. Next Gen Competition
Non-traditional web-based advisory
companies
New media information providers
Luxury/leisure service providers

12. Playing Catch Up
Global wealth managers/financial services firms are far behind
their clients in digital and social media adoption.
Affluent Investors:
34% use social media for personal finance and actual
investing
24% have changed investment providers or reallocated
investments due to social media.
HNW Investors
25% seek investment advice from social media.

13. AsiaPac Digital Heavyweights
Affluent Investors:
40% of HNW prefer digital contact over face-to-face or
phone.
28% of Internet users would buy a brand if a friend
"liked" it on a social networking site.
Only 50% of Chinese believe you have to be cautious
online.

14. Technology Rising
Wealth managers predict that:
Their use of social networks will climb 40% by 2014
Mobile & tablets will account for 85% of CRM
technology

15. Marketing Spend By Channel
Brochures &
Sales tools (11%)
Brochures &
Sales tools (28%)
PR, Media & Print
(28%)
2009
Digital & Social
(38%)
Digital & Social
(19%)
Offline Events
(18%)
PR, Media
& Print (31%)
2014
Offline Events
(20%)

16. Social Media’s Reach
Financial services firms can use social media to:
conduct product/service research
deliver branded messaging
vet referrals & source referrals
create compelling digital profiles
publish content and thought-leadership

17. Q&A + Discussion

18. Thank You!
Contact:
april@TheRudinGroup.com