该成年了:fintech公司不应只关注千禧一代 - 互联网金融门户 未央网

最有看点的互联网金融门户

最有看点的互联网金融门户
国际资讯基于互联网平台的金融业务

该成年了:fintech公司不应只关注千禧一代

国际资讯基于互联网平台的金融业务

该成年了:fintech公司不应只关注千禧一代

按Meghan Trainor的话来说,现在财富管理领域的创企(方便起见之后简称Fintech)基本都把目光锁定在了千禧一代身上。在线券商Robinhood的客户中位数年龄是28,78%的用户小于35岁。Betterment客户平均年龄35岁,三分之二是千禧一代。有着300万注册账户的Acorns的客户基本也是千禧一代。但如果这些公司希望提高有意义的资产管理规模,那就必须要关注一下其他的用户群体了。

为什么选择千禧一代?乍看下来千禧一代很有吸引力,原因很简单。首先他们人数众多,是国家最大活跃群体。美国有7500多万千禧一代,每年花费1.3万亿美元。而且他们的比例还会上升。随着婴儿潮一代老去,他们占人口的比例自然会下降。而且慢慢地千禧一代会赚更多钱,他们还会继承上一辈已经积累的财富。

呃,但是:作为今天金融科技创企的主要服务群体,千禧一代其实还没什么太多钱。他们比前几代人身上的债务更多,比如学生贷款。钱都在婴儿潮一代、沉默的一代(婴儿潮的父母们)和失落的一代手里。底特律金融服务中心研究显示,千禧一代目前仅拥有全国财富的4%,而婴儿潮一代则拥有50%,沉默的一代为33%。确实之后沉默一代的财产会传递给下一代(精算领域的事),但大多数钱将是婴儿潮一代继承。婴儿潮一代还需要很久才会将大多数钱遗传给失落的一代。也就是说千禧一代还得很久很久以后才获得真正财富。凯恩斯说过,长期看我们都将已逝去。现在等着千禧一代的Fintech公司在"我们"都死去前就会资金不足而破产。

无望了吗?一些Fintech管理层说他们没有专门面向千禧一代,但因为千禧一代比之前几代都更熟悉科技,因此用户中他们占比更多。但AARP数据显示,70%50岁以上的成年人会使用手机,40%使用平板。很多Fintech公司并没有花费功夫吸引他们。婴儿潮一代和失落的一代并不是不了解科技,只是他们有不同的需求。这些人需要供孩子上大学、照顾年老的父母并考虑退休(如果可以退休)。所以Fintech公司用户大多数用户是千禧一代并不是这一代人更会使用科技,可能是因为这些公司没能解决更老几代人的问题。

It’s all about the…: These days, for consumer fintech companies in wealth management (we will call them fintechs for short), it is, to paraphrase Meghan Trainor, all about the millennials. Fintech unicorns are courting millennials and garnering billion-dollar valuations for succeeding at it. The median age of a customer of brokerage firm Robinhood is 28, and 78% are under 35. The average age of a Betterment customer is 35 and two-thirds of its customers are millennials.  With three million accounts, Acorns has primarily a millennial customer base as well. However, if these companies and their millennial-chasing brethren are hoping to raise meaningful assets under management, it is time for them to move on from the millennials.

Why Millennials? It’s understandable why millennials might look like an appealing bunch at first glance. First, there are lot of them: millennials are the nation’s largest living generation. There are more than 75 million millennials, and they spend $1.3 trillion annually. And the percentage of the population they represent will increase. Indeed, as Baby Boomers age, they will naturally decline as a percentage of the population. Over time, millennials will earn more money, and, also actuarially speaking, they will eventually inherit the money that the generations before them have accumulated.

Um, but: Today, millennials, as a group, have no money (to speak of). They are the generation with more debt than any prior generation thanks to things like student loans. Baby Boomers, the Silent Generation (baby boomers’ parents), and Gen Xers have all the money. According to the Deloitte Center for Financial Services, millennials today have just 4% of the nation’s wealth, compared to 50% for Baby Boomers and 33% for the Silent Generation. And while it’s true that the Silent Generation will, over time, pass their wealth on (that’s the actuarial stuff), most of their money will go to baby boomers. Baby Boomers will live a long time from now, and when they pass, most of that money will then go to Gen Xers. Millennials will earn more over time, but it will be a long, long time before they have real wealth. As Keynes once said, in the long run, we are all dead, and fintechs who are waiting for millennials will run out of money and be dead too before that ever happens.

Is all hope dead?  Some fintech executives say that they’re not targeting millennials explicitly, but attracting more millennials because millennials are more tech savvy than previous generations. But according to the AARP, 70% of adults over the age of 50 use smartphones and 40% use tablets. It turns out, many fintechs are just fishing in ponds stocked with millennials. It’s not that Baby Boomers and Gen Xers aren’t tech savvy, they just have different needs. Those generations are dealing with saving for kids going to college, dealing with their elderly parents and contemplating retirement if it ever comes.  So, the fact that the fintechs have predominantly millennial customers is not because the millennials are more tech savvy, but perhaps because they don’t solve the problems that the older generations are dealing with.

Follow the Money:  Willie Sutton, a renowned bank robber, once said he robs banks because “that’s where the money is.” In order for wealth management fintechs to succeed, they too will need to go where the money is, and evolve to capture non-millennials as customers. So, where are the big flows now? Currently, there are $23.2 trillion in retirement plans, the vast majority of that owned by Baby Boomers. As the Baby Boomers retire, this money will flow out of 401ks into IRAs and other investment accounts. Baby Boomers need help managing this money, and they need even more help making it last. Fintechs (and traditional advisors) who help their clients deal with this drawdown will succeed. Baby Boomers have wealth tied up in small businesses and home equity that they will need to liquidate to make this last. Over the next 15 years, $24 trillion will be bequest to the Baby Boomers and Gen Xers (that is that actuarial reality, again). Studies show that when a parent dies, the children who inherit that money will change financial advisors. An advisor, electronic or physical, that is there to help an heir deal with their newfound finances stands to capture real assets and revenue. Some fintechs, such as Personal Capital and Financial Engines, are already there. (Financial Engines just announced its sale to Hellman & Friedman for $3 billion).  The others need to go to where the money is, or they too will suffer an actuarial fate.


用微信扫描可以分享至好友和朋友圈

扫描二维码或搜索微信号“iweiyangx”
关注未央网官方微信公众号,获取互联网金融领域前沿资讯。

发表评论

发表评论

您的评论提交后会进行审核,审核通过的留言会展示在下方留言区域,请耐心等待。

评论

您的个人信息不会被公开,请放心填写! 标记为的是必填项

取消
P

PP未央编辑团队

149
总文章数

TA还没写个人介绍。。。

智能投顾平台Hedgeable关门歇业,市场淘汰已经开始?

栀航 07-18

智能投顾可能并没有你想象的那么好

PP 07-11

智能投顾平台Betterment被指“粉饰账面”,罚款40万美元

栀航 07-04

理财市场全自动化,这样的理想可能吗?

栀航 06-27

Invesco斥资2亿英镑收购财务软件平台Intelliflo

Lucy White | CITY A.M. 06-07

版权所有 © 清华大学五道口金融学院互联网金融实验室 | 京ICP备17044750号-1