Number of Gen Z, Millennial investors seeking financial advice surges

By Aleks Vickovich

The number of Generation Z investors seeking out professional advice from financial planners or stockbrokers has tripled, and the number of Millennial clients has doubled, despite a 30 per cent rise in advice fees.

Analysis of trading data by the Australian Investment Exchange (AUSIEX) found Millennial investors accounted for 8.4 per cent of trading accounts opened by financial advisers on the platform as of March, up from 3.8 per cent before November 2019 and the onset of the coronavirus pandemic.

Generation Z accounts opened by financial advisers tripled over the period, and now account for 1.7 per cent of advised accounts, indicating that a growing number of investors under 25 are paying for professional advice.

To read more:

Leave a Reply

Your email address will not be published.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