Nicole Sherrod

Older clients tend to search for higher yield, so you see energy companies like Chevron, and healthcare names like Johnson & Johnson, and telecoms like Verizon, all of which they are very familiar with and have been investing in for years.

It's a demographic that is very much into tech, so it's not shocking that it tends to skew much higher in their portfolios, take something like Tesla: It's something hot that millennials covet, and although they may not have the purchasing power to buy the car yet, they can certainly buy the stock.