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What Baby Boomer Retirement Means for New Financial Service Professionals



financial services market trendsBaby boomers are aging, and their retirement is making way for newer financial service entrepreneurs. With more jobs opening up and the digital world changing at an accelerating pace – professionals starting their career are in an ideal position.

A retiring generation not only means a new workforce, it also means new ideas and methods that can further modernize the financial service industry. Read on to learn how baby boomers phasing out of the industry, along with new technology in the financial services market, is setting up financial service professionals for success.

Digital Marketing for Financial Services is the Future

Financial services market trends show that digital is winning over analog sales and marketing tactics. Baby boomers who may use outdated, traditional marketing techniques will be retiring over the next decade, creating new opportunities in the financial service industry. Emerging professionals are in a unique position to change the way that financial service business owners market and provide their services. This means there are new ways of reaching clients and creating a more engaging, personalized customer experience. 

Why are baby boomers resistant to technology changes?

Despite the many benefits of digital marketing, some baby boomers find it difficult to implement new technology and therefore miss out on ways to improve their business. Difficulties in adopting new methods may stem from:

  • Lack of understanding of technologies
  • Being stuck in familiar patterns of marketing
  • Mistrust of the internet and a desire to see people face-to-face

As consumers integrate technology in more areas of their lives, business owners profit by using technology effectively. Baby boomer resistance to technology creates significant opportunities for innovation in the financial service industry. Younger generations are comfortable with technology and already are incorporating it into their marketing techniques.

What do people want?

Over the last two decades of the internet, patterns of consumer engagement have emerged. The three main behaviors that drive the adoption of new digital experiences are:

  • Access: Clients want quick and convenient access to data
  • Engagement: Clients want relevant content they can interact with
  • Customization: Clients want a personalized experience

New financial service professionals understand the importance of focusing on the “buyer’s journey” in digital marketing. These new marketing techniques may seem foreign to baby boomer business owners, particularly those who are resistant to technology. This puts the newer generation of business owners at an advantage – they understand how to apply digital marketing and utilize technology.

Niche Markets in the Financial Service Industry

This new generation of financial service entrepreneurs has a unique opportunity to learn from industry experts who will be retiring, and combine that knowledge with new technology and digital trends. Digital marketing allows financial service businesses to target even more niche markets than before.

Target niche markets by using digital marketing

Financial service professionals who target niche groups see an increase in:

  • Referrals: As you network and gain happy clients in a specific niche market, your referrals will increase
  • Job enjoyment: Those who choose a niche market that they are passionate about or personally connected to will be happier in their work
  • Expertise: By focusing on a specific niche market you can become an expert in your field and clients will seek you out

Most people have access to the internet, social media, and other communication methods – creating a whole world of marketing potential. Being able to provide meaningful content and an engaging digital experience for your niche markets is key to a flourishing business.

Credit repair as a added value

Credit repair is a unique service to offer your clients. It didn’t exist during most baby boomers’ prime, giving new professionals an advantage. Credit has become an essential part of our lives and is intertwined with other financial services that you may already offer. Credit repair can be done digitally and help bring in leads, which make it a simple and effective service to add to your business.

Many financial service professionals who are entering the field are finding that credit repair is a viable business opportunity by itself. With low start-up costs and unlimited potential, entrepreneurial-minded professionals are creating successful credit repair businesses.

Learn why credit repair is an emerging digital service for the financial service industry.

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Understanding Bitcoin as an Investment



bitcoin as an investment

Analyzing Bitcoin as an investment

Bitcoin has been at the forefront of financial news for a while now. More people want to also understand bitcoin as an investment. Every day, more and more talk about Bitcoins is occurring, not only as a digital currency but also as a financial investment.  Many people are intrigued by this digital currency, but they also have reservations about it as well.  For now, we will discuss how to evaluate bitcoins as an investment.

There are Bitcoin exchanges, just as there are stock market exchanges.  As of November 2017, the largest full-trading Bitcoin exchanges that are available to everyone include, Bitstamp (a Slovenia based exchange), Bitfinex allows you to swap or buy Bitcoin, Litecoin, and Darkcoins. Coinbase is based out of San Francisco in the United States and touts itself as a one-stop solution for Bitcoins. Cryptsy, based in Florida deals with most of the altcoin currencies. BTC-e (based in Bulgaria), and Kraken (based in the United States).  The world’s largest Bitcoin exchange, BTC China, is based in China, but that exchange only allows exchanges of bitcoins for Chinese Yuan/Renminbi.

bitcoin as an investment

In order to open an account with these exchanges, you usually have to link a bank account to your Bitcoin exchange account, as you need to wire transfer the money for bitcoins to use in your account.  Credit cards and PayPal are not options [at least not at the time of writing] because the transactions can be reversed very easily, whereas a wire transfer cannot be reversed (Need financial advice on this?)

Usually, only bank accounts from that specific exchange’s home-based country can be linked to the exchange account (for example, CoinBase, based in the U.S., only allows U.S. bank accounts).

Like the financial stock markets, bitcoins fluctuate in value against real currencies such as the U.S. Dollar, the Euro, the Japanese Yen, and others.  One important distinction between Bitcoins and real currencies to this point in Bitcoin’s history is the fact that Bitcoin’s valuation has been much more volatile than real currencies.

In December 2013, Bitcoin’s valuation went from about $675 down to about $425 within twelve hours, about a 37% drop in valuation.  That is virtually unheard of with any real currency (barring something major like The Great Depression or some other major economic event).

The reason that this sharp drop in valuation took place is that the People’s Bank of China told third-party payment processors that they should have nothing more to do with Bitcoin exchanges.  As a result, Bitcoin kept getting cut off from being supplied by the payment processors; in fact, Bitcoin was cut off by three payment processors inside of a week.  Banks have also been told to not deal with Bitcoin any longer.

This event reflects the major concern that most financial experts have about the currency.  Many feel it is too volatile as an investment, leading to sharp price spikes and declines that are virtually not seen in other currencies, the equity market, or mutual funds.  Most financial experts feel that the digital currency must stabilize in value and not be so prone to such rapid peaks and valleys for it to be taken more seriously as a solid investment.

In the past, the problem that many financial experts and institutions have had with Bitcoin is that not enough is known about how the currency is mined and how it is “regulated”, so that the currency stays on track of having 21 million bitcoins in the year 2140.

While safeguards are in place to keep the currency on that path, there have been attempts to try to disrupt the network and give a few select bitcoin miners the ability to mine as many coins as they wish.  There has also been concern that a group of miners could combine together, and work toward their mutual benefit, and to the detriment of everyone else on the network. This would occur by harnessing their mining power to get more coins for themselves and leave little to the rest of the network.

Some will always question and doubt how legitimate of a currency Bitcoin is, including its true valuation.  This is likely due to the fact that Bitcoin was the first digital currency, and financial experts are unsure of how to truly evaluate its worth.

More and more companies are starting to accept it as payment, but not enough is known about the mining process and how it can maintain itself to fulfill the promise of 21 million bitcoins in the year 2140.  Plus, Bitcoin can be susceptible to wild value peaks and valleys whenever an event associated with the network takes place, such as when Chinese third-party payment processors and banks are told to not deal with Bitcoin exchanges.

Large companies such as Stripe and Shopify are now accepting Bitcoins as payments. This trend is only going to increase.

However, in 2017, one Bitcoin is valued at over $7000 US dollars. So, it has gained ground as an accepted currency in the digital world and does have a high-value these days.

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5 Ways That Credit Repair Benefits Financial Services Businesses



financial services business opportunities (1)Are you looking to add a new offering to your business skill set? Credit repair is an in-demand service that goes hand-in-hand with other financial services. Not only can repairing credit for your clients increase your revenue, it can also help you retain clients for other financial services. Read on to learn five ways credit repair can benefit your financial service business.


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5 Financial Services Business Ideas You Wish You Had Thought of



digital marketing for financial services-1

It seems like every day a new business launches, and the model is so robust and evident that it makes us say “I wish I would’ve thought of that!” That thought is generally followed up with pressing questions: What can I learn from these ideas? How can I advance my own profession?


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