They're richer than you think. They're more scared than their elders. And they're ripe for the picking. Millenials will change the face of wealth management as we know it.
Uber for transportation, Tinder for dating, even Washio for laundry and dry cleaning. “We do things on our schedule, from our phones with the push of a button, and we absolutely demand affordability,” says Alexa von Tobel. Her point, of course, is that financial services are ripe for some youthful disruption. And the 30-year-old New Yorker with a name more befitting an octogenarian baroness has perhaps the leading company for doing just that: Von Tobel founded and runs LearnVest, a site and app designed to make managing your money as easy as streaming music or ordering from Amazon. Since 2009 she’s raised a whopping $72 million, including from Jim Breyer’s Accel Partners, which famously funded Facebook in its early stages. The latest $28 million round, in April, valued LearnVest upwards of a cool quarter-billion.