We are possibly seeing the first signs that the 10-year bull market that survived a pandemic, blocked shipping channels, the outbreak of war, and every other headline-grabbing news story that would derail stocks began to falter. Beyond that, the world is changing, and it is happening in real-time.
The lines are blurring as NFTs, cryptocurrencies, and Defi become mainstream. We’re seeing the impact of culture influencing finance. How else can you explain Beeple, an artist who had never sold a print for more than $100, now counted among the top 3 most valuable living artists? This is the blurring of the lines, where culture (“art”) impacts investing, and conversely, investing and technology impact culture.
Beeple is not the only example of this phenomenon. The NBA has joined the party, as have Tony Hawk, Snoop Dogg, DJ Steve Aoki, and Paris Hilton. All of the above names are also huge influencers of culture and society.
What can we take from the blurring of these lines?
The takeaway is clear: Investing is changing, and it is going younger. Millennials are now decision-makers who have real assets. And here’s the kicker, they are not interested in their parents’ way of investing.
That may not come as a surprise, and it shouldn’t, but there are lessons to take away from this.
First, if I were an advisor, I would be studying Defi like I was preparing for the Series 7. I would take the time to learn who the tastemakers are influencing the next generation of investors. They aren’t legendary investors like Bill Gross or Carl Ichan; instead, they’re social media influencers on Twitter, TikTok, and Instagram. New investors are connecting with these influencers through apps and technology, which is how I would learn to communicate with them. I would ensure my practice speaks to the interests of young investors—and those interests are not golf and steak dinners.
Younger investors are interested in content and experiences, not just being tax efficient. Of course, advisors can’t completely change how they build and grow their businesses overnight, but they need to be more aware that the next generation of investors doesn’t want to come into their corner office. They don’t even need to see advisors face to face.
So what can advisors do?
Start by rethinking what an ideal client looks like. The old model requiring $500K minimums even to start a conversation is dying. A new content-driven model is in its place that allows investors to get to know advisors on their terms and time. Many new investors believe they can get all the advice and guidance from an investing app. We all know that’s not the truth, and should the markets take a severe downturn, it will be tough to expect an app to show empathy and talk investors off the ledge. It will be the advisors who make the human connection, offering guidance through conversations and understanding who will win the day, building clients for life.
The successful advisor of the future will embrace technology, not just to streamline their back-office or onboarding process but to connect with their clients’ millennial and Gen-Z children. In addition, they will have to understand unique investments like NFTs, cryptocurrencies, meme stocks, and the new era of collectibles.
Want to learn more about the future of investing? Join us at Future Proof.
The tide is changing, and the old guard will not be around much longer, as the lines that separate investing from culture are replaced with a new digital future that offers endless possibilities.
John Swolfs is the Chief Content Officer at Advisor Circle, a product studio for growth-oriented financial professionals. John is responsible for creating dynamic programs for Advisor Circle’s world-class events which include Future Proof festival and Exchange, the world’s leading ETF event.
Future Proof is set to bring together the world’s most prominent figures and emerging minds to explore the intersection of money, tech, culture and impact.
Future Proof brings together an entirely new community of financial advisors, institutional investors, asset managers, fintech startups, investors, financial creators, activists, artists, musicians and other key stakeholders around an unprecedented experience and agenda.
Future Proof’s Wheel of Impact promotes the power of giving in a fun, dynamic and social way. With a donation of any size, attendees can have the ability to spin the wheel, determining where the donation will go and how it will be used. Land on the “mystery” selection and have a chance to win items, trips and other experiences.
Nobody likes to be pitched, but the truth is we all need a little help keeping up to speed on our dynamic industry. The What’s Poppin’ Pitch Lounge sets the tone, giving you intimate access to short and punchy demos from the most innovative fintech companies in the world. Grab a bag of popcorn, sit back, relax and absorb the next wave of innovation impacting the world around you.
The Future Proof Beach Bash with the iconic Surf City as the backdrop will be your kickoff to Future Proof. Join your fellow attendees as we watch the sun dip into the Pacific Ocean. Walk the Future Proof Boardwalk, sampling the local cuisine and cocktails as you explore all our festival has to offer, giving you a taste of what you can expect over the coming days.
What good is an event if you don’t experience the local scene? Join the City Crawl and take advantage of two newly added Entertainment Districts complete with amazing local hotspots, including some of the best breweries and eateries in SoCal, all walkable from your hotel and the Future Proof Boardwalk.
We convert the Boardwalk from an interactive learning environment to an immersive art and music experience. The evening is capped off with a concert headlined by one of the most dynamic up and coming artists taking today’s music scene by storm. Stay tuned for updates as we announce performers and more, creating a truly unique experience.
Get the latest scoop on pivotal industry topics and current events affecting the wealth space. By leveraging our robust event technology, you’ll have the opportunity to create both peer-led and industry-led roundtable-style discussions. Learn more about the most pressing topics impacting the future of wealth. These hard conversations are made easier as you and your cohorts grab some ice cream and settle in for an informal yet highly engaging conversation.
Physical and mental health is the cornerstone of any successful long-term wealth plan. But for years, our industry has prioritized work over health, leading to unhealthy lifestyles and employee burnout. The Health Is Wealth Center provides a warm and relaxed setting, allowing attendees to come in and recharge, grab a drink from the juice bar and eat healthy snacks. The space will also be home to daily group yoga and fitness classes as well as meditation sessions.
You can’t expand your perspective and think differently if you aren’t exposed to a broad perspective. That’s why our speaker faculty isn’t limited to traditional finance. The Brewing Lounge will bring out-of-industry experts to present their visions for a new world of wealth. To help fuel the conversations, we’ve created a true coffeehouse feel complete with baristas just waiting to pour you the perfect cup of joe.
Podcasts are all the rage, as they excite and entertain audiences from afar. Future Proof changes the game, as we invite your favorite podcasters to host their shows live from the festival. Forget passive listening. Future Proof’s Live Podcast sessions allow you to interact directly with your favorite podcast creators as they record live episodes just feet from the Pacific Ocean.
As the beating heart of the boardwalk, the Ocean stage will feature seating for over 500 and have the look and feel of a concert venue on the beach. The ocean stage will host a range of exciting content from industry-changing keynotes to the closing concert featuring today’s biggest musical acts.
The Pacific Highway stage is the most versatile stage at Future Proof. With countless setup options, the PCH Stage is your go-to spot for industry insight and innovation, all while staying current with the latest trends in money, culture, tech and impact.
Future Proof Live is our full-production broadcast studio strategically placed at the heart of the Boardwalk. Our very own Future Proof anchors will provide all-day commentary featuring casual speakers and celebrity interviews as well as unexpected guest appearances. Future Proof Live extends our one-of-a-kind experience to a larger audience virtually.
rhe Creator Corner is built to support creators, creatives and brands. It’s equipped with a podcast recording studio and first-of-its-kind Collab Lab. The podcast area will afford attendees the ability to record podcast sessions and will feature podcast consultants helping to answer questions of both existing podcast hosts and aspiring creators. The Collab Lab is where asset managers and fintech companies collaborate with leading and emerging finance influencers. Looking for engaging content built for the modern financial professional or investor? We offer high quality video and audio production for all your creative needs.