Mature financial planners can learn a few key lessons from Generation X and Y advisers, according to a recent study by Synchron.
The dealer group conducted an informal survey of nearly 200 Generation X and Y advisers which dispelled some common generalisations about this younger cohort of employees, Synchron chief executive Don Trapnell said.
"There were some key areas that impressed us about these Gen Y and Gen Xers who have such a poor reputation amongst employers for being inconsistent, self-centred employees who are just passing through," he said.
"Our experience is the opposite but I can only generalise over our small sample."
The study found that these advisers - all new or recently established financial planners under the age of 40 - respected the ideas of mature advisers and were very good listeners compared to their older counterparts, Trapnell said.
"They respect ideas and will listen to the grey hairs if the ideas sound like they will work or have come out of an evolving development of that expertise," he said.
"They're also extremely good at listening rather than wanting to get their word out, whereas more mature people speak as much as they listen. The young ones were also hungry to learn the bridges to get from listening to empowering clients to action."
The study found the younger advisers also looked to the older generations for guidance, Trapnell said.
"The reality is they do respect the grey hairs and they look to them as mentors more so than we believed, so that was something that really surprised us," he said.
"We also found that the younger ones know the power of being authoritative without sounding authoritarian."
