Trends Report

Millennials Want Financial Advice, With Or Without Humans

Across Most Developed Markets, Millennials Crave Advice, Yet They Trust Algorithms Almost As Much As Humans

August 30th, 2017
Peter Wannemacher, Principal Analyst
Peter Wannemacher Principal Analyst
Davis Janowski, null
Davis Janowski
With contributors:
Alyson Clarke , Benjamin Ensor , Cody White , Mike Chirokas , Shayna Neuburg

Summary

Millennials are now the largest generation in the workforce across most developed markets. As their finances become more complex, Millennials are developing a healthy appetite for advice on money matters: They're more likely to rely on financial advice than older generations. But Millennials are also much more likely to trust digital advice than their parents. Digital leaders at banks and wealth management firms should invest in digital capabilities and collaborative advice now to better win, serve, and retain Millennials going forward.

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