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

Professional Adviser TV: Creative ways to tackle the advice gap

Professional Adviser TV: Creative ways to tackle the advice gap

With Octopus Money CEO Ruth Handcock and financial adviser Kristian Manton

Professional Adviser
clock 25 April 2025 • 1 min read
Economic secretary confirms wholesale ISA review as experts demand sweeping reform

Economic secretary confirms wholesale ISA review as experts demand sweeping reform

LISA reform front and centre

Beth Brearley
clock 24 April 2025 • 2 min read
 MorganAsh introduces customer support tracking to vulnerability platform

MorganAsh introduces customer support tracking to vulnerability platform

Recording suggested next steps

Jaskeet Briah
clock 24 April 2025 • 2 min read