Navigating the diverse needs of clients across generations presents a significant opportunity for financial advisors to cultivate a thriving, future-proof practice. Rema Rahayu Binti Ismail, an MDRT member from Kuala Lumpur, Malaysia, demonstrates how adaptability, empathy, and strong client relationships can transform this challenge into a rewarding career.

With over 13 years of experience, Rema has become a trusted advisor, empowering Malaysians at all life stages to achieve financial security. She observes, "Clients come to us with different financial experiences shaped by their generation and our role is to bridge that gap with empathy and provide tailored advice."

Understanding generational priorities

In her current client base, Gen Z makes up 38%, Millennials 29%, and Gen X 33%, so it is crucial for her to recognize the unique priorities of each generation. Early in her career, Rema primarily served baby boomers and Gen X, who often prioritize health insurance, long-term care, and legacy planning, seeking assurance for their medical needs and family protection. She explains that for these generations, ensuring their children's well-being is paramount, leading her to focus on solutions like tailored medical coverage and legacy planning that provide peace of mind.

She found that Gen X clients, often manage mortgages and debts, require a different approach. During one policy review, she assessed a Gen X client’s coverage using her gap portfolio concept – applying basic protection formulas such as 10 times annual income for life coverage and five times annual income for income protection. By doing this method, it was revealed that the client was underinsured, especially in income protection. Thus, Rema proposed to upgrade the client’s existing plan and to add critical illness coverage. After discussing real-life claim cases, the client agreed to the changes, and as a result, it provided the client with better protection for their family and peace of mind. Rema’s strategy of reviewing client policy regularly together with her gap portfolio methodology allows her to provide sound financial advice and tailored financial solutions that meet her clients’ evolving needs. "As their needs change," she stresses, "we need to be proactive and keep their financial protection up to date."

The entry of Millennials and Gen Z into the workforce brings another shift in priorities. Millennials are focused on building families and careers, while Gen Z is in the early stages of their financial journeys. Both generations value flexibility, holistic planning, and digital engagement. Informed and tech-savvy, they expect personalized solutions. Rema points out that younger clients tend to be more financially aware, with many recognizing the importance of early planning post-COVID.

Bridging the digital and personal divide

The rise of digital technology has reshaped financial planning. Younger clients are often influenced by social media and online content, sometimes leading to misconceptions. Instead of resisting this, she leverages digital platforms for education and engagement, using tools such as WhatsApp groups and social media to keep clients informed and connected.

"They might say, ‘TikTok told me to invest in crypto,’ and I don’t dismiss that," she shares. "I encourage clients to use online information as a starting point, but always to ask questions and verify with trusted sources."

However, Rema emphasizes that technology should enhance, not replace, personal relationships. She prioritizes meeting clients in person at least annually or bi-annually to review coverage and address concerns. "Some clients prefer face-to-face meetings, while others are comfortable with WhatsApp or Instagram," she says. "The key is to adapt. Knowing I am accessible provides my clients with assurance."

Addressing misconceptions through education

Overcoming misconceptions is a significant challenge, particularly among younger clients who may believe financial planning is exclusively for the wealthy. Rema directly addresses this by sharing success stories of clients who started small and maintained consistency. "Many young people think, ‘I don’t earn enough to start planning,’" she explains, "but I always tell them, it’s not the amount — it’s the habit. Start small and stay consistent."

She also notes that even older clients can misunderstand product differences. "Sometimes even older clients are unclear on the distinction between medical insurance and critical illness coverage," she says. "I simplify these concepts to ensure their understanding."

To educate her clients, she dedicates time to clarify the differences between products like medical cards and critical illness coverage, empowering them to make informed decisions. This requires advisors to be patient educators, demystifying financial products and illustrating their role within a client's broader financial plan.

Building enduring relationships

Central to Rema’s success is her dedication to build strong client relationships. Treating every client like family, she maintains regular reviews and proactive communication. This approach has fostered multigenerational relationships, with clients referring their children and grandchildren, creating a legacy of trust. "One of my clients has been with me since my first year," Rema recounts. "Now I also advise her son. This kind of relationship is built on consistent care."

The key takeaway for advisors is to move beyond mere transactions. Investing in clients’ well-being cultivates referrals and positive word-of-mouth, fueling business growth.

"Tech is great," she states, "but what clients remember is how you made them feel—especially during tough times." Empathy, trust, and personal connection are the cornerstones of long-term success.

Rema offers valuable advice to her peers: lead with empathy, listen actively, and treat clients like family. "Lead with empathy," she advises. "Understand their fears, hopes, and motivations for seeking your guidance. This is how you build lasting relationships."

Through her adaptable approach and unwavering dedication, Rema continues to empower clients of all ages to achieve financial security and peace of mind, demonstrating that with the right guidance, financial planning can provide strength and stability for generations to come.

Contact: MDRTeditorial@teamlewis.com

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