Millennial generation aspires to using advisers - research

Apps to become more popular, finds Finimize

Hannah Godfrey
clock • 2 min read

A third of millennials hope 'one day' to obtain financial advice from a professional adviser, despite that at present being one of the less popular channels for that generation, research by Finimize has found.

Online financial planning platform Finimize found just 10% of millennials currently use a financial adviser, making this channel one of the least popular sources for getting help with their finances among 18 to 34 year-olds. Nevertheless, a third (33%) of millennials aspire to have access to an adviser in the future, making it the second most popular 'one day' option after a bank or building society (38%).  The research also found nearly half (49%) of millennials currently rely on parents for financial advice, while just under a quarter (23%) turn to a friend for guidance. Advice from...

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 Your profession

The Platforms Association acquires the UK Platform Awards

The Platforms Association acquires the UK Platform Awards

Clive Waller hands over the awards programme

Isabel Baxter
clock 30 July 2026 • 2 min read
FCA bereavement survey sent to just 12 firms – 'A very small dip in the ocean'

FCA bereavement survey sent to just 12 firms – 'A very small dip in the ocean'

Covers advisers, platforms and wealth managers

Sophia Panayi
clock 30 July 2026 • 3 min read
'Underperforming' sector does more damage to women over time

'Underperforming' sector does more damage to women over time

Y Tree executive director Eliana Sydes speaks to PA

Sophia Panayi
clock 29 July 2026 • 2 min read