Advisers told social media is vital to attract younger clients

‘Financial advice is more for my dad. Gen Z is seen as a poor generation’

Sahar Nazir
clock • 2 min read

More than one third (40%) of Generation Z (16-26-year-olds) would turn to social media for financial advice, according to market researcher Savanta.

Speaking today (7 September) at Defaqto's Smarter Financial Decisions conference, Savanta director Kathy Ellison told delegates that less than a quarter (20%) would turn to a financial adviser. Ellison was speaking on a ‘future of finance adapting to the changing lives of Gen Z' panel which also included four people from the Generation Z age group who were either students or in part-time work. One of the speakers told delegates that social media is an attractive tool because it allows for instant reviews. She explained that if an influencer posts a financial product or service, social...

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