Robert Kinnun • Midland, MI
Madison Avenue Securities, Inc.
I have always had an advisory practice that has been fairly “quiet” when it comes to external marketing activities. My focus is on high-net-worth (HNW) families and their unique and complicated needs, including the planning for the transfer of wealth across generations, charitable giving, business succession or sale, and managing their substantial and varied assets. Almost all of my referrals come from attorneys or accountants who know I can handle the specialized needs of the affluent.
In working with HNW families, I am increasingly seeing the need for ramping up my use of technology to address the needs of the future generations of my current clients.
Sons and daughters, or grandchildren—now in their teens or 20s—have obviously grown up with a far greater exposure to technology than prior generations. They also have a different mindset, seeming to be less patient and looking for fast, technologically enabled answers for just about every aspect of their lives.
They are used to instant gratification and instantaneous response. The challenge will not only be in the mechanics of communicating with them, but also in explaining and reinforcing long-term investment strategies for a generation that thinks in real time.
I cannot claim to have all of the answers, but it is something that I think my generation of advisors needs to address. There are several areas where technology can come into play. An obvious one is in having the most client-friendly access to account information, presented in a clear, concise, and intelligent fashion.
I also am going to improve my electronic communications with clients. I have recruited my teenaged son to help me sort through the best technology practices. Fortunately, he is very interested in financial services and will be getting vetted so he can work with me. His perspective and hands-on input will be very valuable.
Disclosure: Robert Kinnun is a registered representative of and offers securities through Madison Avenue Securities, Inc. (“MAS”), member FINRA & SIPC, a registered investment advisor.
Photography by Brad Ziegler
