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.
AI-driven job fears are weighing on retirement confidence, especially among Gen Z and Millennials, Thrivent survey finds
It’s the second time in as many years regulators have penalized Centaurus Financial for lack of compliance with Reg BI.
AI Teammate is embedded within Wells Fargo’s Advisor Gateway desktop platform.
Elsewhere, Ameriprise added a $470 million Wells team in New York, while an ex-Morgan Stanley advisor bolsters UBS' Austin, Texas office.
Financial advisors play an essential role in helping small business owners navigate their transition out of the company — and into retirement.
Northern Trust’s Ken Lassner shows advisors how to convert volatility into after-tax portfolio gains
Dan Biagini of American Equity says the steady decline of pensions, longer lifespans and a reset in interest rates are rewriting how advisors build retirement income
