The study also indicated that millennials have a strong interest in financial guidance, including seeking advice on digital platforms. In addition, it noted that the younger generation of investors are significantly more likely to be female; more likely to have a college degree; less likely to be white; and less likely to be married.
Foy noted that millennials are a critical segment, the largest demographic group in terms of representation in the workforce. “They have high expectations. Even those with high satisfaction scores, they are willing to leave if a better opportunity comes along."