It’s the perennial issue for the advice industry – with the bulk of the country’s wealth moving down the generational ladder, how can advisers engage with younger Australians?
New research conducted by ING and Rice Warner aims to tackle this problem. The My Generation report surveyed over 2,000 Australians aged between 16 and 64 – from the newly-minted “generation Z” straight up to baby boomers – to determine how they approach their finances, to whom they turn for advice and how much they’re willing to pay for it.
It’s a comprehensive piece of research, but there are some key takeouts for those in the advice profession looking to court younger savers.
Advisers were found to be the most trusted source for financial advice across all generations, but despite recent headlines, generations Y and Z (those aged between 16 and 38) held the most faith in the profession. Furthermore, while
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