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CoreData’s Digital Intimacy Report finds people are more likely to take action when allowed to experience the brand on their terms and not have messages pushed onto them. A quarter’s response to online marketing depends on how much they trust the brand in question.

Stocks and shares Isa ownership among women is low. If levels of stocks and shares (S&S) Isas are brought in line with those of males, the industry could see an estimated pot of £8.83bn flowing into these products.

24.5% of people were primarily motivated to start thinking about estate planning by starting a family, 23.1% claimed they had simply reached a certain age, and 14.3% were encouraged to think about estate planning by financial advisers.

28.8% of women and 14.3% of men claim their most trusted adviser on estate planning issues is a family friend.

25.0% of 45-54 year olds and 33.3% of 65-74 year olds say they openly discuss wealth in their families, as well as 61.5% of the 35-44 age group.

Investors believe UK and European shares will dominate the first half of 2014, with sentiment shifting heavily in their favour at the expense of both emerging and frontier markets.


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Millennial Finances

September 2017

Millennials in the U.S. are struggling to achieve their financial goals. Seven in ten (69%) say saving for retirement is one of their top financial goals while paying off student loans (44%) and providing for family and children (44%) are also near the top of the ranking. However, they are often heavily indebted and concerned they will not be able to save enough for retirement. Millennials are being held back by daily essential living costs (71%), general debt such as credit card and car payments (52%) and student loan payments (47%).

Student loan debt is one of the biggest barriers holding back millennials from saving more for retirement. In this study, 85% of millennials had a student loan when graduating from college with an average debt of almost $40,000. Millennials spend almost a tenth of their monthly budget paying back student loans and half (49%) say taking out student loans has prevented them from saving more for retirement.

There is an opportunity for financial advisors to demonstrate how they can help these millennials in need. Many millennials already use a financial advisor and more than three-quarters (77%) plan to use an advisor closer to retirement. And the benefits are clear: advised millennials have higher levels of knowledge and confidence when making financial decisions, are more confident about meeting their investment goals and have saved more for retirement.

With millennials set to be the beneficiaries of one of the largest intergenerational wealth transfers in history, advisors are presented with a real opportunity to provide help and financial assistance and showcase the value of advice.

While millennials are open to receiving advice, financial advisors need to adopt tailored marketing strategies specific to this generation. Advisors will need to tap into the technology and communication channels used by millennials. In contrast to older generations, millennials prefer to handle their investments online and to engage with financial providers through social media. Millennials also have a different financial risk tolerance than non-millennials.

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