More than half of young professionals have no idea where to invest their savings, according to AXA's latest Big Money Index.
The index revealed 55% of this demographic lacked a clear investment strategy, despite having "the biggest scope for wealth creation", according to Axa's head of retirement planning Andy Zanelli.
Zanelli said the results of the survey highlight significant opportunities for financial advisers .
He said: "For advisers the opportunity is evident. Given that it is young professionals who are most in the dark, advisers need to think carefully about how they engage with them.
"The relationship that develops would diversify the adviser client base and can be highly valuable as advisers take the consumer through several significant life stages.
"Interestingly, against the backdrop of the ‘flight to cash' mentality of recent times, two in five (39%) consumers said it was unlikely they would move their savings to elicit a better return in the next three months.
"They could be missing a trick. While the UK savings market has suffered in recent years, with high inflation and record low interest rates eroding the income of consumers up and down the country, it simply doesn't pay to sit on cash."
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