By 2030, millennials are expected to control as much as $20T of assets globally and their parents (the baby boomers) are expected to pass down another $30T by 2050 in North America alone (vis the great “Wealth Transfer.”)
Today, startups are attacking this market early. As assets transfer to the more digitally-native millennial investors, startups want to establish trust and get ahead of the demand for technology.
The key to acquiring millennial customers rests on three pillars: customer acquisition, product strategy, and business model. To win, companies must adapt and execute on all three to acquire and keep the next generation of wealth engaged.