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The average age of a financial advisory client is 63.5 years old. Within 20 to 30 years an advisorís existing client franchise will have largely disappeared. Advisors will need to reach out to Generation Y and Generation X to maintain their businesses. But the younger generations have different financial needs and expectations from those of their parents and grandparents. Rather than a face-to-face meeting with their financial advisor to develop a financial plan, younger clients are more comfortable performing their own Internet financial research and then collaborating with their advisor through Web 2.0 tools. New technologies not only enable advisors to provide multi-channel services to younger clients in the manner they want to be served, but it also allows them to scale their business and increase the number of households and assets they can manage, says Mark Halverson, global executive partner, Accenture.

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Exclusive: Inside the GETCO Execution Services Trading Floor
Exclusive: Inside the GETCO Execution Services Trading Floor
Advanced Trading takes you on an exclusive tour of the New York trading floor of GETCO Execution Services, the solutions arm of GETCO.