The Covid-19 crisis is causing more young people to seek the advice of financial advisors, according to a survey by Northwestern Mutual.

About a fifth or more of the respondents among the generations younger than baby boomers said they didn't have an advisor before the pandemic but intend to now seek the advice of one, according to Northern Mutual's 2020 Planning and Progress Study.

The latest survey in the ongoing study, conducted April 29 to May 1, included 2,077 U.S. adults, the company said.

Specifically, 19% of Gen Xers, 22% of millennials and 22% of Gen Zers said they are now looking for a financial advisor after getting along without one before the pandemic.

"This is an enormously difficult time for so many Americans, however it's good to see they're taking action, rising to the challenging road ahead, and making choices aimed at enabling their recovery," Christian Mitchell, executive vice president and chief customer officer at Northwestern Mutual, said in a prepared statement. "People are doing their best to secure their financial foundations and position themselves to emerge from this stronger."

The survey also found the U.S. population in general is placing a greater focus on personal finances in response the economic devastation caused by the epidemic.

Among all adults, for example, 15% said they have developed a financial plan after not having one before the coronavirus outbreak.

Moreover, 20% of those who did have a financial plan before the pandemic said they are now revisiting the plan in response to the crisis.

These trends were more pronounced among the younger generation, according to the study's authors. Twenty-eight percent of millennials, for example, are revisiting their existing financial plans, and 19% of them are looking to develop a financial plan after not having one before the epidemic.

One-quarter of Gen Zers are also looking to develop financial plans for the first time.

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