Millennial generation aspires to using advisers - research

Apps to become more popular, finds Finimize

Hannah Godfrey
clock • 2 min read

A third of millennials hope 'one day' to obtain financial advice from a professional adviser, despite that at present being one of the less popular channels for that generation, research by Finimize has found.

Online financial planning platform Finimize found just 10% of millennials currently use a financial adviser, making this channel one of the least popular sources for getting help with their finances among 18 to 34 year-olds. Nevertheless, a third (33%) of millennials aspire to have access to an adviser in the future, making it the second most popular 'one day' option after a bank or building society (38%).  The research also found nearly half (49%) of millennials currently rely on parents for financial advice, while just under a quarter (23%) turn to a friend for guidance. Advice from...

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

Andrew Goodwin: Why 2024 served up a familiar investment lesson

Andrew Goodwin: Why 2024 served up a familiar investment lesson

Further twists and turns no doubt await in 2025

Andrew Goodwin
clock 03 January 2025 • 4 min read
Marcus Rashford's investment company at risk of closure

Marcus Rashford's investment company at risk of closure

Failing to produce accounts

Linus Uhlig
clock 03 January 2025 • 1 min read
Feel Good Friday: Hoxton Wealth launches online community for aspiring financial planners

Feel Good Friday: Hoxton Wealth launches online community for aspiring financial planners

Study support and access to industry events available

Professional Adviser
clock 03 January 2025 • 1 min read