Estimated reading time: 0 minutes, 52 seconds

What Do Millennials Want from FAs?

There have been many columns written about how millennials have rejected financial advisors in favor of self-directed platforms. But that’s not completely accurate. So reports U.S. News & World Report.

businesswoman 4126486 640smallMany millennials may indeed be utilizing self-directed platforms, but that doesn’t mean they are rejecting financial advice. In fact, many may both need and be looking for financial guidance. A recent survey by the National Association of Personal Financial Advisors (NAPFA) found that many millennials feel underprepared for retirement and this is due to inadequate financial guidance.

It would be more accurate to say millennials are rejecting the traditional role that financial advisors have played for generations, says Brian Stivers of Stivers Financial Services. Investment strategies have evolved and advisors need to as well. It can be as simple as virtual meetings, or developing e-tools.

Advisors also need to be articulate their value to millennials. And they need to remember many millennials have never experienced a real market crash.

Read the full article from the U.S. News & World Report.

Read 291 times
Rate this item
(0 votes)

Visit other PMG Sites:

PMG360 is committed to protecting the privacy of the personal data we collect from our subscribers/agents/customers/exhibitors and sponsors. On May 25th, the European's GDPR policy will be enforced. Nothing is changing about your current settings or how your information is processed, however, we have made a few changes. We have updated our Privacy Policy and Cookie Policy to make it easier for you to understand what information we collect, how and why we collect it.