Did you know that in Canada, many university graduates have an average of $20,000 in debt when they leave school?
In fact, several thousands of graduates have received government aid to pay for school and find themselves with debt that will take years to pay off. Others, who are luckier, graduate debt-free and in good financial health.
Each graduate’s financial situation varies quite significantly. It is therefore important for them to be supported by a financial security advisor so that they can find a balance between the sound management of their debt and the realization of life projects. With their heads in the books, some students have never really paid attention to their finances and only discover the world of savings and insurance once they leave school.
Here are a few products to help you retain their interest:
- TFSA: to save for a short- or medium-term project, a tax-free savings account is an advantageous instrument to grow their savings tax-free and make non-taxable withdrawals!
- RRSP: contributing to their retirement income from an early age is an excellent savings habit to take on. A registered retirement savings plan may be an interesting option for the purchase or construction of a first home, thanks to the Home Buyers’ Plan (HBP)
- Term life insurance: lower insurance premiums for young people in good health may be advantageous.
- Living benefits: for graduates with high economic value, it is very important to enjoy a source of replacement income to realize their projects in the event of a disability. Additionally, iA has simplified issue solutions with no medical exams and fully digital enrolment.
How can you reach graduates?
Primarily on social media! Several studies show that social networks like Facebook, Instagram and LinkedIn are very heavily used by this generation, even for when it comes to finances!
That being said, the Web Showcase has several guides to help you increase your online presence, and the post bank contains ready-to-share content to bolster your social media! Above all, remember to create a professional page on Facebook and LinkedIn.
How can you start the conversation?
Present yourself as the resource-person they should contact to bring their projects to life. Be optimistic in your discussions about their many projects and avoid being too formal while remaining professional.
Graduates are often ambitious and, most of the time, enthusiastic about the help they can get regarding their finances. This is a great opportunity to grow your clientele.
Your turn to shine!
