For example, younger personnel in our seminars often characterize their older customers as passive, self-indulgent, unchanging and more demanding. Many oldsters react negatively to these stereotypes. To avoid building a program that meets the needs of the Financial Institution, take time to learn just exactly what the older customers of your market need and want in a program.
Most Seniors are rather cautious with their finances.
Many lived through the Depression. They are concerned about the safety of their money. So, put more emphasis on FDIC protection than you hafve in the past, and explain exactly how they can maintain several accounts with your Financial Institution through proper account structuring methods. Oldsters, likely to own many things already, often prefer to buy experiences, such as excursions that offer educational and personal growth opportunities rather than a simple getaway trip. A wise banker will carefully contemplate these characteristics before pulling together or finalizing any package of progressive financial services to be offered to them.