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

Retirees shun financial advice and take DIY approach to finances

Retirees shun financial advice and take DIY approach to finances

Four in five of over 55s who have retired, did so without financial advice

Sahar Nazir
clock 29 April 2024 • 1 min read
More than money: Putting your clients on the right track

More than money: Putting your clients on the right track

'In truth, financial advice is so much more than just money'

Roger Brosch
clock 29 April 2024 • 4 min read
Plugging the support gap in retirement 'not FCA's role'

Plugging the support gap in retirement 'not FCA's role'

Majority of professionals say FCA should not have to plug support gap

Sahar Nazir
clock 29 April 2024 • 1 min read