Robo advisor, meet millennial advisor
July 14, 2016 by Lori Widmer
After four years of college and two years abroad, Thomas Forbes’ toughest challenge was establishing networks to build his new business.
Thomas Forbes thinks the robo-advisor is an interesting evolution for the insurance and financial planning industry. Forbes, associate financial representative for Northwestern Mutual in Los Angeles, sees the rise of the robo-advisor as both a challenge and an opportunity. “It makes sense to where we are today in the world. I think it will slowly begin to penetrate the millennial market because it’s easy and it’s low cost.”
Forbes sees the benefit for young people who don’t necessarily make time to meet with financial advisors to create a financial plan, including insurance and retirement. “It’s not always easy to set aside time for something like financial planning if you don’t know you have a need for it. It’s not how millennials roll.”
He should know — Forbes is a millennial, as well. Plus, he’s new to the job, having been a financial rep for just two and a half years. It wasn’t a job he intended, but after college and two years in South Korea teaching English and learning a foreign language, he was home and considering his options.
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