Growth strategies aimed at baby boomers may be losing their effectiveness among younger consumers, as the population becomes more racially and ethnically diverse, according to Life-Annuity Consumer Markets Annual, from Conning. Additionally, generational attitudes toward financial services products and technology are not only different, but evolving.
Sales strategies developed around face-to-face interactions with older, higher-net worth customers may not translate well to these changes in the consumer landscape, Conning said.
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