While the Millennial generation, those born between 1982 and 2000, are still a young population, eventually they will grow up to become the next generation of mass-affluent investors, following the current Baby Boomers.

Millennials have been raised differently than any other generation due to the Internet and technology. Financial services firms must recognize the preferences of this group to capture the loyalty of these entry-level customers, according to the report "The Millennials, Financial Services and the Web" by Boston-based research firm Celent.

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