Rachel Louise Ensign

speaker

574 appearances 12 recordings 1 series first heard Jan 2018 last heard Jan 2024

Rachel Louise Ensign’s voice in public audio — every appearance, attributed to the second.

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And maybe I'll lose a lot, but...

I'm okay to take that risk.

So it seems like that is more common and that's a bigger part of the culture.

And that's not really how the financial advisor business operates for the most part.

So that's a big disconnect.

So the big wealth management firms say that they're trying to change a little bit to win over the Travis's of the world.

I mean, one approach which you see in the story is to offer these people really big loans.

And that's been just like a booming area of growth.

And it's sort of seen as like a way to retain the customers or even get them in.

So with Travis, for instance, he got this big windfall and –

put some of it in the bank and the bank smartly, their wealth management people came knocking and said, hey, we see that you have all this money.

If you put it in a wealth management account with us, we'll give you a personal loan at an extremely low rate that you can use for anything you want.

So that's one strategy that's been working with all age groups recently.

But I know young people who might not find other services that appealing really like that.

And yeah, I mean Merrill is trying to become more diverse so that advisors are more reflective of the younger population.

Everyone is trying to improve their technology because obviously millennial clients communicate differently than the older clients do.

And Morgan Stanley has been doing some really interesting stuff by buying up other companies that –

have younger clients.

So one is E-Trade, like a big online broker.

And another one is called Solium.

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