Advisers urged to engage with millennials

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Advisers urged to engage with millennials

It reported 24 per cent of millennials wanted to receive financial advice at age 40, 18 per cent at age 50 and 13 per cent at age 60.

Jamie Clark, business development manager for Royal London Intermediary Pensions commented: “Improving millennials’ understanding of the real benefits and true value of long-term pension savings is where financial advisers can play an important role.

“Some millennials say that engagement should start as early as age 40, not when they’re close to retiring. 

“Advisers can play a vital role in tapping into the financial needs of millennials at an earlier age than perhaps would normally be the case as there is clearly an appetite for advice.”

Mr Hall added: “With age comes complexity, and bigger numbers. There’s a level where people think they can do things on their own, but when the sums become larger, they start to feel they need a second opinion, or they become too busy… that it makes sense to engage an adviser.”