Younger people more likely to have an adviser but 'gap' persists - Progeny

18 to 34-year-olds 'get it'

clock • 2 min read

Younger people are more likely to use a financial adviser but the advice gap is still am industry-wide problem, research from Progeny reveals.

The survey of more than 2,000 people found that 41% of 18 to 34 year-olds had an adviser compared with 17% of 45 to 54-year-olds and 18% of those over 65. However, the IFA firm's survey revealed that only one in four respondents said that they had a financial adviser. Of those who did not have one, 83% felt that a financial adviser ‘wasn't for them'. The research revealed people are less confident in their financial future than they were before the Covid-19 pandemic, with two in five respondents over 45 worried about not having enough money to retire. Nearly half of respondents (46...

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