Millennials Ready for Financial Advice
Posted On January 8, 2013
On average Millennials (83%) are more concerned about retirement security than other generations (75%) according to a Bank of America survey. So what are they looking for in order to get started? Some financial advice they can relate to, says the study.
78% of them want to learn more about financial products. 75% say they’re looking for a one-stop-shopping type source to get a complete picture of finance and investments. And 74% just want advice from a qualified financial advisor.
Millennials are warier of the markets that older generations and they have specific communication and marketing preferences. However, this and other surveys suggest that the demand is there but that the industry has yet to figure out how to meet it. For advisors and firms that can meet this generation on its own terms and deliver what it’s looking for, the potential is enormous.
For further insight into reaching Millennials with financial services, look for my forthcoming e-book on generationally-savvy financial advising – available from this site in January.