Tiffany Tocco, Strategic Growth Team for Wipfli, joined Julie Cooling, Founder and CEO of RIA Channel, to discuss financial planning for the next generation of investors.
Wipfli is a top-20 consulting and accounting firm. Its practice is organized by industry, and consultants have experience in the industry they cover. The firm’s financial services practice works with RIAs, asset managers, and broker-dealers on projects such as consulting, outsourced CFO, outsourced controller, taxes, and audits.
RIAs engage Wipfli for consulting projects on being proactive regarding transition planning, talent management, and retaining family assets after wealth transfer events. Wipfli’s product studio works with clients on digital strategy, including software and app development, cybersecurity, usability testing, and mobile-friendly web design.
While the financial services industry has done a great job reaching millennials with technology platforms, it must realize that many millennials grew up in families that did not have wealth, talk about wealth, or provide lessons in financial literacy. Millennials might not yet be thinking about retirement, but do have shorter-term financial goals to buy homes, pay for both their own and their children’s college tuition, and feel free to travel and enjoy life. While consultants can help build brands and technology, the financial advisor is still the only one who can build the personal relationships that are so important to their clients, their prospects, and their families.
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