Young people (18–34-year-olds) are twice as likely to use social media channels on average (31%) than 35–54-year-olds (14%) and more likely to turn to specific social media influencers for information about finances and money, according to St. James’s Place (SJP).
The wealth manager's Real Life Advice Report which launched today (5 December), suggested that the industry needs to embrace digital channels because 18-34 years olds as a significant proportion were seeking financial information about finances and money through social media. SJP's study, which surveyed just under 12,000 individuals, showed that among those that currently don't access advice only one in five (18%) 18–34-year-olds think they would find it beneficial in the future. Meanwhile, nearly one in three (29%) say their personal situation is too simple to require advice, 14% hav...
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