The Affluent Millenial Opportunity Study - India

1. The
Millennial Opportunity
India | June 2015

2. There are 395 million millennials in India. This segment is vital to the Indian economy as they are a
key economic driver for the future. This shift to a more technologically mobile, self-empowered
generation will drastically change the primary buyer persona of financial services firms around the
world, thus forcing massive changes to their marketing strategies and business models. How can
financial services providers prepare for these drastic changes?
LinkedIn and Ipsos recently conducted a global study of approximately 800 Millennials in India to
help answer this question. The study worked to identify their preferences and behaviors regarding
savings and investments, as well as their attitudes and beliefs about financial services providers. It
examined how Affluent Millennials are reshaping the future of the finance industry, how they are
preparing for their future today and how financial institutions should reach, nurture and deepen
relationships with affluent millennials.
Background

3. GLOBAL SURVEY
20 minute online survey, fielded
by LinkedIn and Ipsos in April
2015.
Survey measured usage,
engagement, attitudes and
opinions on financial services.
GLOBAL SAMPLE
9,200 respondents in 10
countries: United States,
Canada, United Kingdom,
France, Netherlands, Australia,
India, Singapore, Hong Kong
and Brazil.
Quota sampling/weighting
applied to represent Internet
users in each market.
CRITERIA
Respondents were Millennial
(18-34) and Gen X (35-49)
Internet users.
In India, Affluent is defined as
more than 30 Lakhs but less than
2 Crore net investible assets,
excluding real estate.
INDIA RESULTS
This report covers results from
802 total respondents in India,
including:
502 total Millennials (incl. 138
Affluent) and 300 total Gen X
(incl. 108 Affluents).
Methodology

4. Understand the differences
between Millennials and Gen X
with regard to brand affinity,
purchase process and
information-gathering.
Examine the subset of Affluent
Millennials to understand their
unique mindset, behaviors and
expectations.
Comprehend the role that social
media plays and the influence
that content and context has on
the decision journey for retail
financial products.
RESEARCH OBJECTIVES

5. AFFLUENT MILLENNIALS ARE…
Key Findings Summary
ETERNAL OPTIMISTS
Unparalleled in confidence
about their financial future,
happy to sacrifice now for
the future and set
ambitious life goals.
Demonstrate stronger trust
and loyalty with their
current financial services
relationships.
SOCIAL-CENTRIC
Financial institution’s social
networks are a must-have
and central to Affluent
Millennial financial
decisions.
HUNGRY FOR
EDUCATIONAL INFO
Top content includes peer
reviews, expert opinions or
commentary, thought
leadership, educational
content and information
about product services.
OPEN MINDED
Despite being loyal
customers, Affluent
Millennials are open to
financial offerings from
traditionally non-financial
brands and are early
adopters of emerging
payment technologies.
INDEPENDENT
Are happy to take on debt
to fund their lifestyle goals
Do financial research on
their own, however see
intrinsic value in being able
to validate this with a
financial advisor.

6. AMBITIOUS, PROGRESSIVE
& CONFIDENT:
How This New Power Persona Is Reshaping The Finance Industry

7. % Agree: One financial ideal is that every citizen should have an equal opportunity to achieve
success and prosperity through hard work, determination, and initiative. Is this ideal alive and
possible today?
Affluent Millennials are utterly optimistic in their belief
in the Indian dream
MILLENNIALS GEN XERS
Total: 85% Total: 87%
Affluent: 96% Affluent: 93%
More than half of Affluent Millennials anticipate another financial crisis. This does not stop
them having confidence in India’s future economic growth, or the opportunity to invest in
their future success, in line with other groups.
Despite the belief in the Indian Dream, there is a
concern about a potential future financial crisis
Millennials Gen XersAffluent Millennials Affluent Gen Xers
37%
54%
30%
39%
I anticipate another
financial crisis to occur
I am confident in my country's
future economic growth
The sacrifices I make now will
pay off in the future
52%
60% 60%
69%
58%
64%
59%
67%

8. % Agree: I expect to be successful and advance quickly in my career
“Millennials are different. They have
grown up empowered and expect to
have a more self-directed life.”
- Mohamed El-Erian,
Chief Economic Adviser of Allianz
Affluent Millennials expect to own their own destiny
MILLENNIALS
Total: 63%
Affluent: 68%
Affluent Millennials are prepared to head overseas for
the right opportunities
41%
58%
32%
45%
AFFLUENT
MILLENNIALS
AFFLUENT
GENX
MILLENNIALS
GENX
39%
54%
22%
36%
AFFLUENT
MILLENNIALS
AFFLUENT
GENX
MILLENNIALS
GENX
LEARNERS
Travel overseas for further education/ study
WORKERS
Travel overseas for work opportunities

9. Affluent Millennials define success through
independence and freedom
Affluent Millennials Affluent Gen Xers
1.5x
15%
10%
2x
15%
8%
3x15%
6%
BEING ABLE TO TRAVEL &
SEE THE WORLD
DOING FINANCIALLY
BETTER THAN PARENTS
FREEDOM TO DO WHAT
YOU WANT

10. INDEPENDENT, YET
SEEKING GUIDANCE:
For Affluent Millennials, Their Financial Future Starts Now

11. Affluent Millennials are more likely than Affluent Gen X to have a personal or business loan to
facilitate their entrepreneurial and life goals.
Affluent Millennials are more likely to carry debt
HAVE AT LEAST ONE…
43%
28%
14%
18%
68%
52%
27%
22%
45%
27%
11%
8%
69%
35%
18%
9%
Credit card with a balance Personal loan Business loan Student loan
Wages are losing dominance as the primary source of wealth. Among those who have
acquired any assets from wages, Affluent Gen X are more likely to say this is their primary
source of wealth.
Sources of affluence are shifting across generations
Compared to Affluent Gen X,
Affluent Millennials are more likely
to have gained their assets from:
SELF
EMPLOYMENT
1.6x
SCHOLARSHIPS &
GRANTS
1.4x
ROYALTIES
1.8x
Millennials
Gen Xers
Affluent Millennials
Affluent Gen Xers
54%
51%69% of
57% of
% Primary source of wealthAffluent Millennials Affluent Gen Xers

12. While brokerage accounts are standard, only 2 in 5 Affluent Millennials has a brokerage
account, highlighting the importance for financial institutions to build relationships early as
Millennials grow their wealth.
Affluent Millennials are more likely than Affluent Gen X
to have a brokerage account
% OF PAYCHECK SAVED PER MONTH
Affluent Millennials are more likely to save most of
their monthly paycheck
1/3 of Affluent Millennials save most of
their paycheck
25% + 50% +
70%
33%60%
21%
HAVE AT LEAST ONE ACCOUNT…
2 in 5
Affluent Millennials have a
brokerage account
31%
42%
BROKERAGE
(NON-RETIREMENT)
3 in 5
Affluent Millennials have
not yet started a
retirement account
Affluent Millennials Affluent Gen Xers
Affluent Millennials Affluent Gen Xers

13. Affluent Millennials seek greater involvement and control in
financial decisions, but still validate decisions with advisors
55% 54%
AFFLUENT
MILLENNIALS
MILLENNIALS
SOLOIST
Perform their own research, make decisions
and execute trades
42%
47%
AFFLUENT
MILLENNIALS
MILLENNIALS
Despite their tendency to do their own research and seek information on financial decisions,
2 in 5 Affluent Millennials are particularly likely to see value in having a financial advisors for
their current assets, similar to those in Generation X.
Affluent Millennials like to validate their research with
financial advisors, considering them a must-have
A FINANCIAL ADVISOR IS A…
39%
38%
51%
48%
10%
14%
AFFLUENT
MILLENNIALS
AFFLUENT
GEN XERS
Must-have Nice to have Unimportant
Nice to have Unimportant
VALIDATOR
Conduct their own research and investment
decision but consult with advisor to validate
Must-have

14. The affluent segment’s loyalty as customers isn't
surprising when we see that they are more likely
to trust the financial institutions they work with.
The Indian Millennial and Gen X populations are trusting of
financial services brands, particularly affluent individuals
AMONG THOSE WITH MULTIPLE ACCOUNTS OF EACH TYPE, % WHO HOLD ALL WITH
THE SAME INSTITUTION:
Once they are customers, Affluent Millennials are
highly loyal to their financial institutions
Affluent Millennials are significantly
more likely to say they are very loyal
and plan to do more business with
financial institutions they work with.
CHECKING
AFFLUENT MILLENNIALS: 76%
AFFLUENT GEN XERS: 31%
RETIREMENT
AFFLUENT MILLENNIALS: 52%
AFFLUENT GEN XERS: 36%
CREDIT CARD
(no balance)
AFFLUENT MILLENNIALS: 46%
AFFLUENT GEN XERS: 11%
BROKERAGE
AFFLUENT MILLENNIALS: 59%
AFFLUENT GEN XERS: 27%
36%
51%
57%
46%
7%
3%
Somewhat loyalVery loyal Not loyal
AFFLUENT MILLENNIALS
AFFLUENT GEN XERS
80%
92%
84%
90%
AFFLUENT
MILLENNIALS
MILLENNIALS
AFFLUENT
GENX
GENX
More than three quarters of Affluent Millennials with multiple checking accounts hold all of these at the same financial institution.

15. Two in three Affluent Millennials use a mobile payment service
And Affluent Millennials already have high adoption rates
of NFC mobile payment platforms
Likelihood to try services
from a non-financial brand
However, the Indian
population is open to
financial offerings from
traditionally
non-financial brands.
70% 71%
65%
73%
BRAND BIZ: Which of these companies do you currently use?
59%
69%
43%
63%
32%
43%
16%
28%
15%
20%
11%
9%
69%
Millennials
Gen Xers
Affluent Millennials
Affluent Gen Xers
Millennials Gen XersAffluent Millennials Affluent Gen Xers

16. HIGH EXPECTATIONS &
BIG DEMANDS:
Affluent Millennials Want A Deeper Connection
With Financial Services Providers

17. FIVE KEY FACTORS OF IMPORTANCE
TO AFFLUENT MILLENNIALS
When choosing financial institutions, privacy and positive
online buzz are important to Affluent Millennials
PRIVACY
Offers a high degree of
privacy and has a good
security track record
PURPOSE
Company has a community
mission you care about
EXPERTISE
Company has financial
advisors with a great deal
of experience
WEBSITE
Offers a website that has all
the banking features I need
SOCIAL PRESENCE
Company has positive
online buzz

18. AFFLUENT MILLENNIALS
USE SOCIAL NETWORKS
MORE THAN GEN X TO:
% of Affluent users that use at least 1 social network to obtain this type of info
Inform personal
finance/investment
decisions
65%
Seek content from
financial companies
64%
Affluent Millennials consider social networks a
must-have and are central to their financial decisions
Peer opinions, thought leadership and product reviews
top content for Affluent Millennials on social networks
AFFLUENT
MILLENNIALS
MILLENNIALS
AFFLUENT
GEN XERS
GEN XERS
Must-have Nice to have Unimportant
Nice to have UnimportantMust-have
60%
52%
32%
39%
8%
9%
56%
47%
39%
42%
6%
10%
EDUCATIONAL
CONTENT
PEER
OPINIONS
THOUGHT
LEADERSHIP
93%
82%
AFFLUENT
MILLENNIALS
AFFLUENT
GEN XERS
92%
76%
AFFLUENT
MILLENNIALS
AFFLUENT
GEN XERS
90%
67%
AFFLUENT
MILLENNIALS
AFFLUENT
GEN XERS

19. Source: LinkedIn behavioral data, GLOBAL, May 2015
COMPARED TO THE GENERAL POPULATION
ON LINKEDIN, AFFLUENT MILLENNIALS ON
LINKEDIN HAVE:
Affluent Millennials are especially active on LinkedIn
GROUP ACTIVITY SHARES
FINANCE TOPIC
SHARES
COMPANY
FOLLOWS
2x AS MANY 13x AS MANY
CONNECTIONS

20. Implications and opportunities for FS marketers
Opportunities available to financial services providers to successfully navigate potentially
tumultuous times and even thrive through it all.
Affluent Millennials are hungry for
information that can be directly
applied to their specific financial
situation and they are looking for it
within social networks.
Financial services providers should
leverage the social networks to
provide relevant content.
Earn trust and build relationships with
Affluent Millennials by delivering the
balance of expert advice and
encouraged independence they crave.
Transform the customer relationship
by providing vital resources that
support customers daily activities.
PERSONALIZE AND SOCIALIZE
EXPERT ADVICE TO ESTABLISH TRUST
AND ENABLE INDEPENDENCE
Affluent Millennials have proven to be
extremely loyal once their trust is won.
Financial services providers should
reach out to Affluent Millennials now
and build relationships with
them before the non-traditional
competition is able to.
Earn their trust and secure their
loyalty now and the outsider brands
won’t have a chance.
ESTABLISH LOYALTY EARLY
3 in 5 Affluent Millennials do not
have retirement accounts.
Establish relationships with Affluent
Millennials now, becoming their
trusted advisors to help cast a vision
and execute a plan for retirement.
RETIREMENT PLANNING

21. THANK YOU
CONTACT: lmsindia@linkedin.com