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Millennials Claim to be Saving for Retirement, Just Not With Financial Advisors
Our new national study shows 69 percent don’t use a financial advisor, but 70 percent are saving for retirement.
Millennials have the most confidence across all age groups in using savings accounts as an investment vehicle, while older respondents are more likely to trust workplace retirement plans, according to a recent survey by Broadridge of more than 1,000 U.S. residents aged 22 to 59.
“This demonstrates a significant need for financial guidance,” said Cindy Dash, who leads Broadridge’s Matrix Financial Solutions, in a recent article for WealthManagement.com. “The good news is that advisors don’t need to completely reinvent the wheel to meaningfully engage the next generation of clients. They just need to know and take action on what millennials actually want.”
