Millennials confident on investing without seeking financial advice

Social media is helping younger investors feel confident

Sahar Nazir
clock • 1 min read

Millennials are centre among the least likely age group to seek out financial advice when it comes to investing, according to the Financial Services Compensation Scheme (FSCS).

The study is the third report published in a series of consumer research papers and looked at UK consumers' attitudes towards financial advice. It found that young people between the ages of 18 and 34 were most likely to agree that it should be easy to invest without needing professional financial advice. A total 60% of Millennials (individuals born between 1981 and 1996) and 57% of Generation Z (people born between 1997 and 2009) with financial products said that they can find "good financial advice online". Meanwhile, nearly half (44%) of Generation Z said they can source "good f...

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