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.
RIAs need to find universities that offer financial planning programs and sponsor or host events, advisor suggests.
The leading wealth tech provider is helping more advisors access active ETF models through its exclusive partnership.
Case of once-wealthy family highlights risks, raises questions on firms' duties to sophisticated investors suffering cognitive decline.
“The evidence in this case was overwhelming,” says an attorney.
The move marks the culmination of a decade-long journey for the new leader at the Ohio-based RIA and Natixis affiliate firm.
Uncover the key initiatives behind Destiny Wealth Partners’ success and how it became one of the fastest growing fee-only RIAs.
Key insights from Gabriel Garcia on adapting to demographic shifts and enhancing client experience in a changing market
