Millennials' tech ideals pose challenge for advisers

'Quasi solution' most popular, research finds

Hannah Godfrey
clock • 2 min read

Almost half of UK millennials want to do all their financial planning on a smartphone - a preference that could pose a challenge for financial advisers who traditionally deliver face-to-face services, according to Legg Mason.

The group's 2017 Global Investment Survey found almost half (46%) of UK millennials - those aged 18 to 35 - were keen to use their smartphone to do all their financial planning. This was the highest proportion across Europe while, in contrast, just 13% of UK baby-boomers - those aged 53 to 71 - said they would feel comfortable with such an approach. This view is mirrored globally, with nearly half (47%) of millennials happy to do all their planning on their mobiles, versus just a fifth (22%) of baby-boomers. The research is in keeping with findings from Dunstan Thomas earlier in th...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Technology

AI is transformative, but are investment portfolios too dependent on it?

AI is transformative, but are investment portfolios too dependent on it?

'In a market dominated by a single narrative, looking beyond today's leaders is not a contrarian stance'

Nisha Thakrar
clock 27 July 2026 • 4 min read
Saturn targets £800 advice journey with AI operating system

Saturn targets £800 advice journey with AI operating system

‘Project OS’ set to launch in September

Isabel Baxter
clock 24 July 2026 • 2 min read
Why advisers must warn divorcing clients about AI-generated assumptions

Why advisers must warn divorcing clients about AI-generated assumptions

‘The risks can be particularly serious where significant wealth is involved’

Simon Bassett
clock 20 July 2026 • 3 min read