Why are Gen Z and Millennials are seeking financial advice

Are you targeting Gen Z and Millennials with your marketing? If you’re not, you should be. Financial advice can make a world of difference if you don’t know how to manage your money. And some generations seem to be more open than others to it. Here, we look at why are Gen Z and Millennials are seeking financial advice.

Why are Gen Z and Millennials seeking financial advice?

Research shows that different generations turn to financial advice for different reasons. Some of these reasons have to do with goals and age. Others have to do with different financial priorities or interests. Let’s take a look at six more popular reasons for these two generations to seek financial advice:

  1. Suddenly getting extra money
    For Gen Z, coming into a windfall (28%) or receiving an inheritance (20%) are important reasons to seek advice.
  2. Solving debt
    Around 20% of Gen Z would seek the help of a professional if they got into financial difficulty.
  3. Saving for a big goal
    Figuring out how to save for a home deposit is the goal of 24% of those in Gen Z searching for financial advice.
  4. Figuring out the investment market
    Millennials are more preoccupied with investments. More than a quarter of them (26%) want to start investing and need guidance. Another 25% want to learn how to invest ethically, a major consideration for many new investors.
  5. Dealing with requests for help
    A survey shows that 27% of Millennials would seek guidance if they received a financial request from a family member or friend.
  6. Getting on the property ladder
    While an important reason, only 16% of Gen Z are putting house hunting on the list of reasons for seeking financial advice.

I hope that you’ve found this post on Why are Gen Z and Millennials are seeking financial advice useful.

If you need help getting started with Instagram, contact myself or a member of my team here.

Have you joined our Facebook group? The group is for Financial Advisors and Professionals who want more leads and sales through an effective lead generation system.

We encourage all members to ask questions, solve problems and provide advice. Join the group here.

If you haven’t done so already – Download our Facebook Ads Blueprint For Financial Services: https://l2wmarketing.typeform.com/to/PifCDP

Leave a Reply

Your email address will not be published. Required fields are marked *