LMS FinanceConnect 15 Affluent Millennials Research
Transcript of LMS FinanceConnect 15 Affluent Millennials Research
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The Affluent Millennial
Opportunity
Simon Wake Managing Director
Ipsos MediaCT Australia
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mil •
A F F L U E N T
ni•
IN THE 1980 S OR 1990 S als
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C U R R E N T F I N A N C I A L
S E R V I C E S L A N D S C A P E
Through the lens of Affluent Millennials
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*Significantly greater than Genx and Aff. Genx
Likelihood to Try Services from a
Non-FS Brand
Affluent Millennials Are Open to
FS Offerings from Traditionally
Non-FS Brands
37%
45%
24% 24%
MIL
LE
NN
IALS
GE
NX
AF
FLU
EN
T
MIL
LE
NN
IALS
AF
FLU
EN
T G
EN
X
*
*
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16.30%
32.60%
23.40%
10.50%
0.00% 5.00% 10.00% 15.00% 20.00% 25.00% 30.00% 35.00%
All GenX
Affluent GenX
Affluent Millennials
All Millennials
Millennials are becoming financially savvier Though are still lacking the confidence in investment and portfolio management
exhibited by their previous generation
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Millennials Seek Involvement & Control
in Financial Decisions
51% 50%
43%
40% 38%
40% 42%
48%
AF
FL
UE
NT
MIL
LE
NN
IAL
S
AF
FL
UE
NT
GE
NX
AF
FL
UE
NT
MIL
LE
NN
IAL
S
AF
FL
UE
NT
GE
NX
MIL
LE
NN
IAL
S
GE
NX
MIL
LE
NN
IAL
S
GE
NX
S O L O I S T V A L I D A T O R
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Affluent Millennials believe social
networks will be the hub of all their
financial information in the future 1in 3
34%
23%
12%
AFFLUENT
MILLENNIALS MILLENNIALS GENX
VS
Seek content from financial companies on social networks
M I L L E N N I A L S :
T H E S O C I A L - C E N T R I C G E N E R A T I O N
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How relevant is educational content/information to you?
Millennials Find Financial Education Most Relevant
AFFLUENT, 70%
AFFLUENT, 63%
MILLENNIALS, 53% GENX, 46%
Millennials are more interested
in learning about retirement
planning on social networks
than GenX (43%vs. 20%)
2x MORE
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% of Affluent Users that use at least 1 social network to obtain this type of info
T H O U G H T L E A D E R S H I P
71%
27%
AFFLUENT
MILLENNIALS
AFFLUENT
GENX
P R O D U C T R E V I E W S
53%
37%
AFFLUENT
MILLENNIALS
AFFLUENT
GENX
P E R S O N A L L O A N S
56%
11%
AFFLUENT
MILLENNIALS
AFFLUENT
GENX
Thought leadership, personal loans, and product reviews top
content for Millennials on social networks
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Mobile is at the core of how Millennials are engaging with FS
institutions, and is key to how they manage their finances
58.10%
62.40%
42.50% 42.30%
0.00%
10.00%
20.00%
30.00%
40.00%
50.00%
60.00%
70.00%
Hu
nd
red
s
All
Millennials
All
Genx
Total Affluent
Millennials
Total Affluent
Genx
% using mobile apps to make payments / transfers
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F U T U R E F I N A N C I A L
S E R V I C E S L A N D S C A P E
As Millennials envision it
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74%
Affluent Millennials
think the Great
Australian Dream is
possible 66%
Affluent GenX
vs.
Affluent Millennials are more likely than
general Millennials to be confident in the
country’s economic future (20%
Millennials vs 39% Affluent Millennials)
2x MORE LIKELY
T H E F U T U R E ’ S S O B R I G H T
F R O M M I L L E N N I A L S ’ P O I N T O F V I E W
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% AGREE: The sacrifices I make now will pay off in the future
Affluent Millennials Will Sacrifice Now For The Future
*Significantly greater than Genx
M I L L E N N I A L S G E N X
To t a l : 4 3 % *
A f f l u e n t : 5 0 %
To t a l : 3 2 %
A f f l u e n t : 5 2 %
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A C T N O W
B U I L D D I A L O G U E
& T R U S T W I T H
E D U C AT I O N A L
C O N T E N T
B E W H E R E Y O U R
A U D I E N C E I S
Seize the Affluent Millennial Opportunity
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