The Financial Advisor Prospecting Process For Different Generations

We know that strong client relationships are the backbone of our business. But what many of us don’t realize, is that fostering a positive relationship with your clients entails more than just showing a few smiles during meetings and a “Happy Holidays” email around Christmas time. It means personalizing every facet of their experience, beginning with your financial advisor prospecting process.

 “The relationship between advisor and client is a personal one and, as such, it’s vital to understand the person on the other side of the table.” – Ivy Investments

The Prospecting Process for Different Generations

As advisors, we serve a wide range of generations from the freshly educated Gen Zers looking to begin expanding their wealth, to the tried-and-true baby boomers preparing to retire. For those of us who are niche-specific (i.e; only serving baby boomers and the occasional Gen Xer) the challenge with prospecting lies in our lack of knowledge on how to approach different generations.

Gen Z

The earliest members of Gen Z are typically fresh out of school, born anytime after 1996. While most are still under the guidance of their parents, many are just starting out their adult life, looking for advisors to show them the financial planning ropes. 

How to prospect them: Gen Zers are avid users of social media and are glued to their smartphone spending an average of 3 hours 28 minutes on their phones per day, using up to five different social channels. So if Gen Zers are your target market, you absolutely need to be prospecting via social media. 

Tips on how to use social media for prospecting.



Millennials are the largest group in the workforce, and the generation with the biggest revenue-generating potential. Millennials were born anytime between 1981 and 1995, making the oldest millennial 38, and the youngest freshly 23. These are the ages when the biggest life changes occur – marriages, children, homeownership, etc., making them the biggest prospecting target for many advisors.

How to prospect them: Similar to the Gen Zers, millennials spend a lot of their free time on social media, but unlike their succeeding generation, they have a bigger focus on credibility and trust. Focus on utilizing social media platforms such as LinkedIn and Instagram, and follow up your connections with an email or text message to build rapport.

Tips on how to market to millennials.


Baby Boomers

Baby boomers have been the bread and butter of the wealth management industry for a while now, having the most disposable wealth for advisors to “play” with. While many of us have a strong portfolio of baby boomer clients, and therefore a good handle on how to approach them, it never hurts to refresh or adjust our approach a bit.

How to prospect them: Baby boomers are one of the very last generations who aren’t glued to smartphones and computers. This generation enjoys receiving direct mail, emails, and a phone call, but can also be easily influenced by word of mouth from their children (your millennial market). To prospect to this generation, utilize the power of good old-fashioned direct mail marketing, but put a customized spin on what you’re sending to them. 

Tips on how to market to baby boomers.


Regardless of what your target prospecting audience, one thing remains the same – advisors need more time to focus on prospecting. Because our to-do lists are filled with menial, yet imperative tasks, it feels like we never get time to spend working to grow our businesses. Fortunately, Benjamin, your AI assistant, is here to help automate your administrative tasks so you can spend more time on prospecting and other revenue-generating tasks.

See what Benjamin can do to help you begin prospecting.

financial advisor prospecting talking to couple