Millennials speak to advisers more than any other generation

Baby Boomers are not engaging with a financial professional at all

Isabel Baxter
clock • 2 min read

Millennials speak with a financial professional more than any other generation, the Personal Investment Management and Financial Advice Association (PIMFA) has found.

The trade body's ‘Under 40 Leadership Committee Report' - published last Thursday (14 December) 48% of Millennials (1981-1996) engage in conversation at least every two to three months. Conversely, two-thirds of Baby Boomers (1946-1964) are not actively engaging with a financial professional at all. The research also found that 26% of Baby Boomers never speak with their partner about their finances - a higher percentage than Generation Z (1997-2009) and Millennials. Meanwhile, 49% of Generation X (1965-1980) and 63% of Baby Boomers never talk about their finances with friends, whil...

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

PA Asks: Which party manifesto proposals for FS do you favour?

PA Asks: Which party manifesto proposals for FS do you favour?

This week’s poll also looks at the lifetime allowance and NI cuts

Professional Adviser
clock 17 June 2024 • 1 min read
Building trust: How to support clients going through a divorce

Building trust: How to support clients going through a divorce

'Hardest part of our job is telling the client what they don't want to hear'

Tamara Glanvill
clock 14 June 2024 • 4 min read
Majority of un-advised with stock investments have no financial plan

Majority of un-advised with stock investments have no financial plan

‘Many are realising the need for expert financial support in later life’

Hope Coumbe
clock 12 June 2024 • 1 min read