Millennials Want Retirement Readiness Engagement

by | Jul 29, 2016 | Growing Advisors Business

Do you think that millennials are not interested in your retirement planning services? Think again! A recent study has found that millennials have a keen desire to meet face-to-face with a financial advisor and that they want to understand the retirement planning process. More surprisingly, for a generation that has grown up in the digital world, the study revealed that only 19% of millennials said they would use a robo-advisor.

A study by the Insured Retirement Institute (IRI) and the Center for Generational Kinetics (CGK) released in September revealed a number of insights about millennials that should come as good news for advisors seeking younger clients.

  • 68% of millennials (ages 20-37) are saving for retirement but only 29% say they are actively engaged in retirement planning
  • 48% of Millennials have a 401(k)
  • 56% believe they will not be able to retire when they want to
  • 87% want a financial advisor to meet with them in person and 62% want an advisor to walk them through the retirement planning process

Millennials are saving for retirement and want you to meet with them personally and walk through retirement planning together!

Are you prepared to work with this tech-savvy group? Millennials want to see their data and understand how it is being used in the plan. Your trusty legal pad or Excel spreadsheet will not impress, you need retirement planning software that can easily and transparently take a client’s data, illustrate their current retirement projection, and easily illustrate different scenarios. You need software that you can use interactively with your millennial clients. You need The Retirement Analysis Kit (TRAK)!

TRAK is innovative retirement readiness software.  With over 20 tools and calculators and many features designed to make the software interactive, TRAK is designed to be used alongside a client. Simply plug in their existing data and assets and you can easily illustrate nearly any possible scenario for 401(k) and 403(b) plan engagement as well as working with state, local, and federal pension plans. Your clients will love seeing their own data used in the projections and will love creating a plan based on their needs and goals. The fact that TRAK is independent will help you build trust in the plan and in you as an advisor.

Looking for a way to start the conversation? We have added some new features to our popular Interest Calculator that are especially effective for working with younger clients.

Financial advisors add great value to retirement readiness and TRAK will help millennial clients understand the value that you bring to them.

Are you on TRAK?  Try a free trial and discover the software that successful advisors are talking about!


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