According to the Pew Research Center, one-in-three American workers are millennials—making them the largest generation in the US workforce. Today, millennials range in age from 23 to 38. Compared to previous generations, millennials are more ethnically and racially diverse; they are marrying later in life if at all; they are better educated with millennial women completing their bachelor’s degree in greater numbers than men; and, they have less wealth and more debt than baby boomers did at the same age.
Attorneys who work in trust administration know that revenue streams can be volatile—up one month and down the next. Not only does unreliable cash flow make running a practice stressful, but it can also hinder a firm’s’ long-term growth. So, how does one create a profitable, yet steady, revenue stream in trust administration? One attorney has some advice. Jessica Pannell, JD, of JM Law, PLLC in McLean, Virginia, has been sharing her practice’s challenges and successes in trust administration with colleagues all over the nation.