Advising Millennials

December 27, 2018

Millennials are generally considered to be those who were born between the early 1980s and mid to late 1990s. Only 51% of millennials believe they are considered as part of that generation.


83% of millennials want to own a home, 72% plan on being parents, and 68% want to be married. 85% think a long-term financial plan is important and 83% say they have a budget. 70% of millennials think understanding how to invest is highly important.


Millennials appear to trust financial advisors (70%) and are open to guidance, but appear to expect very high returns despite 58% saying they are conservative investors. Millennials were deeply impacted by the financial crisis - many invested in the post ‘09 era which has seen a dramatic increase in returns due rebounding from the recession. However, those kind of market conditions do not last that long, so this makes it important for them to have discussions with their financial advisor and set realistic financial goals.


As one advisor with millennial clients noted, there can be a disconnect between what millennials say of their preferred investment strategy and how they actually invest. They may be risk averse, however they may be willing to opt for riskier investments if they know the company or believe the technology they invest in could be the new “new deal”.


Millennials are going through significant life events - buying a home, having children, etc - so what they are looking for is guidance. While millennials trust financial advisors, they may not be confident they are the types of clients that financial advisors want. However, that is exactly what financial advisors are there to do, and millennials have indicated they are in need of helpful guidance through these critical life stages.

If you are a millennial who is interested in working with a fiduciary, please contact us at invest@taberasset.com or call us at 515-557-1860. We are a fiduciary based, client-first investment advisory firm that offers financial planning, wealth management, and investment management services to our clients based across the U.S.

Back to Blog