Name: Key Differences in Portfolio Construction By Generation
Uploaded: 2025-09-11T16:54:00Z
Duration: 2 min 9 s
Description: Next-gen clients tend to be more entrepreneurial and flexible in their lifestyles, says Ariana Bhatia, private wealth advisor at Merrill Lynch. They often see their portfolios as a “dynamic tool” that can help them live the lifestyle they want.

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Next-gen clients tend to be more entrepreneurial and flexible in their lifestyles, says Ariana Bhatia, private wealth advisor at Merrill Lynch. They often see their portfolios as a “dynamic tool” that can help them live the lifestyle they want.

https://m.wsj.net/video/20250911/08d0357a-5534-410a-9d0b-fa961d9e6ea9/1/hls/manifest-hd-wifi.m3u8

Key Differences in Portfolio Construction By Generation

Are there any key differences between, you know, gen one and that next generation down in terms of portfolio construction?

Yeah, I think I have seen that quite a bit. Prior generations are used to working in jobs for maybe decades and looking at their portfolios often as a piggy bank or a rainy day fund for emergencies, and then of course for retirement later on. I think next gen clients and next gen wealth creators have a slightly different point of view. So they've grown up in the era of seeing wealth created, sometimes seemingly overnight from the boy and girl wonders in Silicon Valley, they've seen the era of remote work. So I find that those clients tend to be more flexible in their lifestyles. They might change jobs, change locations, be more entrepreneurial, and this leads to them looking at their portfolios in a different way. So they often look at it as say a dynamic tool that they can use to help shape the lifestyle they want.

How do you plan accordingly for someone who wants to use a little bit of their savings as opposed to just setting it and forgetting it for later use?

A lot of times you see folks looking at the portfolio as a concurrent resource along with their careers. So they might tap into it during a period of transition, let's say. So instead of, as you said, say setting and forgetting, you kind of have to think about portfolio construction very thoughtfully. So that might lend you to conversations on say asset location versus asset allocation. And what I mean by that is where are we placing these different investments in your portfolio and how? So you might put something in an IRA that you're okay not touching for a long period of time, whereas in the taxable accounts you might wanna have access to that earlier, so you might place something there. So I think it just lends itself to that thoughtful construction piece based on the use cases and how you can see this person using the portfolio in the future.