Young entrepreneurs will be your next big clients

The word “hipster” conjures images of bearded trustafarians decked out in skinny jeans and graphic tees as they tap away on never-to-be-finished screenplays in coffee houses. But, while this archetype’s led most boomers and X-ers to write off an entire generation, there’s another side to the story.

Generation Y, the pool from which most hipsters spring, embarked on a quest for authenticity during and after university that’s led its members to start successful businesses. In that context, it’s time to start calling these vintage-garbed proprietors what they are—capitalists. Many are accumulating significant assets both inside and outside their companies.

Like their predecessors, these cool entrepreneurs will seek managers for those assets. But the advisors they choose will need to accommodate their preference for electronic communication and penchant for community-oriented investing. They also define success differently than the other three generations with which advisors now work.

This special 15th Anniversary Package explains how to reach this new client breed. While only one of the five people profiled sports a seven-figure net worth, time is on their side.

• Tara Newbigging, a Yellowknife fitness instructor
• Marc Almon, a Halifax film producer
• Jerome Downey, an Ottawa social entrepreneur
• Parham Aarabi, a Toronto technology inventor
• Mike Miltimore, a Kamloops guitar maker

Staff

The staff of Advisor.ca have been covering news for financial advisors since 1998.