Eighty-eight percent of the parents feel their children would benefit from discussions with a financial professional, yet only 16 percent of parents have provided, or plan to provide, access to education about financial planning skills, according to the overall survey results.
Again, Heilmann says the advisors are not doing enough.
“As an advisor I would be paying attention to that and be interested in engaging the next generation,” he says. “I would make it an issue to say to my clients that I am interested in meeting their children to talk about financial literacy. Those who engage the next generation will be the ones to continue in business.”