Technology can scale tools, but only advisors can scale trust.
When conditions are changing, true leadership requires one to take stock of the situation, adapt to what’s new, and make the most of future opportunities. That was the message shared by TradePMR founder and CEO Robb Baldwin when he took the stage at our annual SYNERGY25 conference in Tampa.
Robb set the tone for the rest of the conference as he described how a massive demographic, technological, and financial shift is fueling some of the biggest changes advisors may see in their careers.
This transformation, which is already underway, entails a generational wealth transfer that’s projected to total $124 trillion through 2048.1
Demographic changes aren’t the only force at play. Technological advances are raising the bar for how people access and deploy their wealth, while demand for advice is growing.2
It all adds up to a better outlook for financial advisors, Robb said, as long as they are prepared to change, too.
This Isn’t a “Maybe"
Today’s multi-trillion dollar transfer wouldn’t be possible without Baby Boomers. It’s a generation so large that it has changed everything it’s come into contact with, including wealth management.
Most advisors have benefited from this generation’s years of wealth accumulation, Robb continued. “It’s been an incredible run, but as an industry, we have to ask ourselves: After 40 years, what’s next?”
Millennials are powering up the next wave, he said. The generation’s wealth has quadrupled from 2019 to 2024 and is in the thick of its prime earning years.3 Just as the sheer size of the Baby Boomer generation bent the rules of economics to its will, Millennials’ technological capabilities and increasingly powerful financial resources are driving today’s transformations.
“This isn’t a ‘maybe,’” Robb said. “This is the future, and it’s already here.”
Play Offense
The generational shifts in assets, technology, and demographics aren’t something to defend against, fear, or worry about, Robb said. They’re opportunities for whoever is in the right position to play offense.
By merging with Robinhood, TradePMR is playing to win, he said.
Robinhood has 25 million users on its platform, 75% of which are Millennials and GenZ.4
“Robinhood has something absolutely rare: they have trust with the next generation,” Robb explained. “We’re building a pipeline to connect those investors with RIAs like you.”
With plans in place for bringing investors and advisors together, Robb challenged advisors to demonstrate their leadership and provide value to the next generations.
“Robinhood has the technology. Robinhood has the next generation of investors. You have the next generation of advice. And now, for the first time, there’s a bridge between them,” he concluded. “The firms who succeed tomorrow are the ones who lead today.”
For advisors who are ready to tap into career-defining opportunities, the pipeline is already flowing.
About TradePMR
For more than two decades, TradePMR has worked with growth-minded independent registered investment advisors (RIAs), providing innovative technology tools and support designed to transform their businesses. The brokerage and custodian services provider (Member FINRA/SIPC), based in Gainesville, Fla., works to streamline investment advisors' operations through comprehensive custodial, operational, and trading support. For more information, visit www.TradePMR.com.
TradePMR is a subsidiary of Robinhood Markets, Inc.
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4 https://www.tradepmr.com/hood
