Mainebiz

V O L . X X V I I I N O. I V F E B R UA R Y 2 1 , 2 0 2 2 16 W E A LT H M A N A G E M E N T / R E T I R E M E N T C ryptocurrency, nonfungible tokens, meme stocks. A new generation of investors is bring- ing new demands to wealth management. It's not just stocks and bonds anymore. Alternative assets that didn't exist a decade ago are the buzz. Impact investment requires more than lip service. At the same time, the digital age has made the mar- ket more accessible to young people. e amount of information available to young investors is both a blessing and a curse, says Kathryn Brann, a financial advisor with Golden Pond Wealth Management in Waterville. "Twenty years ago, you might hear about a bad day in the stock market just once on the evening news," Brann says. "In 2022, that news might be repeated to you on three forms of social media and two push notifications." For financial advisors, the trends mean staying on top of the digital experience and client expectations, she adds. We asked advisors about trends they're seeing among younger generations looking to invest their wealth in new ways. Common threads? Markets are more accessible and more diverse than ever. But beware of online hype and instant gratification. Kathryn Brann is a financial advisor with Golden Pond Wealth Management in Waterville. Mainebiz: Are you seeing younger generations looking to invest their wealth in new ways? Kathryn Brann: Many of our younger clients are interested in buying investment properties to build passive real estate income. Almost every client under 50 wants to learn about environmental, social and corporate governance investing. MB: Are you seeing new types of engagement by younger people in the market? KB: I think this digital age has made the market more accessible to young people. ey are able to access endless information and investment research, and have a handful of apps at their fingertips that make investing and trading quick and easy. It is great that more young people are investing, because time is on their side, but these apps can lead to overtrading. I also find that, because young people are comfort- able researching online, they come to us with a solid understanding of basic financial concepts. MB: Do younger investors bring new expecta- tions to the wealth management industry? KB: Younger clients expect transparency at all levels. ey want to know what they are investing in, what services they are receiving, and the associated costs. P H O T O / T I M G R E E N WAY P H O T O / C O U R T E S Y O F I I S F I N A N C I A L S E R V I C E S Kathryn Brann, a financial advisor with Golden Pond Wealth Management, says young investors are able to access endless information, but apps can lead to overtrading. David Hanson and his team at IIS Financial Services say cryptocurrencies, meme stocks and real estate are the most common investments that younger people bring up. F O C U S PORTFOLIO From crypto to NFTs, young investors look beyond stocks and bonds B y L a u r i e S c h r e i b e r Fresh approach to the

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