The advantage of experience — why 60 is the new 40 in finance
Don’t feel your age? You’re not alone. Older adults routinely report feeling 10 to 20 years younger than they actually are. Healthier lifestyles and advances in medicine are letting people over 50 be more active than ever. Here’s why we’re tapping into that energy to boost our business.
Older adults routinely report feeling 10 to 15 years younger than their biological age.
The population pyramid is getting more top-heavy in many places around the globe. By 2030, over half the people residing in Europe will be over 50[1]; in the developed world, one-third will have already reached the age of 65. Demographics are shifting because humans are living healthier and longer lives as birth rates continue to decline.
Studies show that many of today’s older adults feel 10 to 15 years younger than their biological age[2]. Improving quality of life in recent decades triggered the shift in how this age group feels. In addition to better healthcare, people now choose healthier diets and are generally more health-conscious. They’re also working in less physically demanding jobs and exercising their minds and bodies more.
The 50-plus paradox
Today’s 50-and-over population grew up in an era of new beginnings and change. They witnessed technological wonders their parents could only dream of. As each advance in communications and mobility made the world smaller, globalization turned it into a giant marketplace. Most people in this demographic have lived in a time marked by political stability, economic growth, the rule of law, personal freedom, and greater access to higher education.
This unique background, combined with a wealth of knowledge and the drive to take on new challenges, is allowing many to reimagine their lives. Individuals in their 50s and 60s are starting new ventures and realizing long-held dreams — often, these are things that had been put on hold by careers or family obligations.
Despite holding prized qualities, many senior professionals are being pushed out of the workforce as firms restructure or cut costs. Financial experts are no exception. Companies often fail to see the value this expertise and wisdom represents. Which means they are missing out on a sizeable opportunity.
The age advantage
At Marcuard Heritage, we’ve not only recognized this opportunity, we’re also seizing it. Let’s face it: Young, highly-educated professionals are in short supply in the financial sector, which competes fiercely to recruit top talent. Why not tap industry veterans to fill the void? They have had plenty of practice mastering new challenges, drawing on nearly an entire career’s worth of learning and growing. And they know how to pass that expertise on to others.
It’s a unique win-win situation.
This is why we’re actively recruiting relationship managers and financial specialists over 50. For industry insiders facing a limited set of opportunities in the job market, this is an excellent chance to gain more freedom and start a new chapter.
It’s a unique win-win situation. We acquire expertise, insights, and new customer relationships. For candidates, joining our modern, multi-generational workplace provides access to support and a means of achieving their desired lifestyle. A team of junior associates, for instance, is ready to assist part-time or semi-retired relationship managers by handling administrative duties. This leaves our senior staff free to concentrate on serving their most important clients.
By recognizing the potential of seasoned professionals and providing an environment in which they can thrive, we are taking advantage of their energy and experience to better serve our clients right now — and for generations to come.