(Length: 23 pages)
This is a Consumer Technographics document

May 8, 2006

The Generations Of Financial Services Consumers

Examining How Financial Needs Differ Across Generations Of US Consumers

by Bruce D. Temkin

with Peter Hult, Eric M. Dolan


Executive Summary (This is a document excerpt)

Boomers are nearing retirement while Gen Yers are beginning their independent financial lives. But there are more differences among consumers than just their age. Our analysis of survey responses from Seniors, Boomers, Gen Xers, and Gen Yers shows that they differ in their attitudes, financial portfolios, preferences for interacting on the Web and in the branch, investment styles, and relationships with financial institutions. These differences will force financial services institutions to more explicitly factor generational differences into their strategy.

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TABLE OF CONTENTS

NOTES & RESOURCES

itemThe Generations Of US Consumers

itemDifferent Generations, Different Attitudes

itemWhich Financial Products Do They Own?

itemOwnership Of Savings Products

itemOwnership Of Credit Products

itemOwnership Of Investment Products

itemOwnership Of Retirement Products

itemOwnership Of Insurance Products

itemWhich Channels Do They Use?

itemChannels For Buying New Products

itemChannels For Getting Service Help

itemChannels For Viewing Account Information

itemChannels For Interacting With Bank Accounts

itemHow Do They Invest?

itemWhat Types Of Relationships Do They Have With Financial Institutions?

itemThe Banks They Use

itemThe Investment Firms They Use

WHAT IT MEANS

itemGenerational Differences Must Drive Financial Services Strategy

Forrester tapped into several of its recent Consumer Technographics® surveys to examine differences across generations of consumers.

Related Research Documents

itemSegmenting Today's Investors

March 31, 2006, Trends

itemTrends 2006: Retail Financial Services

February 7, 2006, Trends

itemOverview: The Affluent And Mass Affluent

November 21, 2005, Trends

Find Documents In Related Categories

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Analyst: Bruce D. Temkin
Technology: Marketing & Advertising
Industry: Consumer Financial Services, Financial Services, Financial Services Marketing, Investments, Retail Banking
Geography: North America

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