Wednesday, September 27, 2006
Pitching 401(k)s To Generation Y Is A Tough Sell
Financial firms are struggling to make a tough sell: Convincing 20-somethings who have barely flown the coop that it's time to put aside cash for a nest egg.
Until recently, mutual-fund companies and brokerage houses have spent far more time courting blue-blooded heirs, thrifty millionaires from the World War II generation -- and, of course, affluent baby boomers. Now, titans including mutual-fund companies FMR Corp.'s Fidelity Investments and Vanguard Group Inc. and banker Wachovia Corp. are wooing the boomers' babies, too. Their targets are the so-called echo boomers, or Generation Y, loosely defined as those 18 to 27 years old.
Pitching 401(k)s To Generation Y Is A Tough Sell
Source: WSJ Online (subscription required)
Until recently, mutual-fund companies and brokerage houses have spent far more time courting blue-blooded heirs, thrifty millionaires from the World War II generation -- and, of course, affluent baby boomers. Now, titans including mutual-fund companies FMR Corp.'s Fidelity Investments and Vanguard Group Inc. and banker Wachovia Corp. are wooing the boomers' babies, too. Their targets are the so-called echo boomers, or Generation Y, loosely defined as those 18 to 27 years old.
Pitching 401(k)s To Generation Y Is A Tough Sell
Source: WSJ Online (subscription required)
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