While 62% of Americans say their financial planning needs improvement, only 35% seek the help of a financial adviser, according to a study by Northwestern Mutual.
Over the last two years, however, the study found that 29% of Gen Z members and 24% of millennials who said they didn’t have an adviser before the Covid pandemic now either have started working with someone or plan to do so. That compares to 18% of the overall population who felt that way, Northwestern Mutual said in a release. Before the pandemic, younger Americans were among the least likely to work with an adviser.
The survey found that people contending with financial uncertainty say it adversely affects their health, job performance and relationships, with between one-quarter and one-third of respondents saying that it makes them feel depressed, keeps them up at night or makes them feel ill, among other negative effects, at least once a month.
Recruited assets, organic growth both powered ahead
Goldman Sachs' Padi Raphael, Global Co-Head of Third-Party Wealth, said the "door is always open" regarding a potential RIA referral program, as the firm looks to serve the "mega trend" of growing wealth from independent advisors.
UBS research finds lack of planning and communication as key challenges for high-net-worth widows and next-generation women in navigating inheritances.
The proposed "all markets" fund is structured to enable quarterly redemptions, driven by investments in public equities, fixed income, and private market assets.
The firm has been dogged by compliance issues for years, resulting in multiple fines by various regulatory bodies.
From direct lending to asset-based finance to commercial real estate debt.
RIAs face rising regulatory pressure in 2025. Forward-looking firms are responding with embedded technology, not more paperwork.
