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

Isabel Baxter
Author spotlight

Isabel Baxter

Senior Reporter at Professional Adviser

More on Your profession

The state of financial vulnerability in 2024 and what 2025 holds

The state of financial vulnerability in 2024 and what 2025 holds

'Most firms are now heading in the right direction with their vulnerability processes'

Richard Farr
clock 20 December 2024 • 3 min read
Feel Good Friday: BRI Wealth Management raises money for homeless charity

Feel Good Friday: BRI Wealth Management raises money for homeless charity

Firm has raised £650 for Let’s Feed Brum

Professional Adviser
clock 20 December 2024 • 1 min read
Bank of England holds interest rates steady at 4.75% amid heightened inflation

Bank of England holds interest rates steady at 4.75% amid heightened inflation

Interest rates remain the same

Sorin Dojan
clock 19 December 2024 • 2 min read