I’m not talking about my generation, but rather Gen X; and the nobody who doesn’t want them are financial advisers. According to a study commissioned by Edward D. Jones & Co., as reported by Investment News, advisers prefer older and wealthier clients. This despite the fact that younger workers are ahead of other generations when it comes to saving for retirement. Aside from the fact that the Gen X investor has fewer assets than the older, affluent investor that is the target client for most advisers, the advisers themselves have painted this generation with a broad brush. Some of the advisers:
- Feel that the younger investors have "attitude problems",
- Are more comfortable working with clients their own ages,
- Are are uncomfortable with the technology they feel that younger clients would demand, and
- Feel that younger investor don’t appreciate the value of good advice.
Hmm, the more things change, the more they stay the same.
And my generation? Represented by My Generation, the title song on the The Who’s first album pictured above which was released in the U.S. in 1965. The song was inducted into the Grammy Hall of Fame in 1999 and remains one of The Who’s best known songs and, indeed, one of the most acclaimed songs in rock and roll history. They don’t make ’em like that anymore. (Sorry, I just had to say it).