Affluent millennials who have a financial advisor are twice as likely to report better investment performance, the survey said. Also, affluent millennials who consider themselves knowledgeable about investing are more than twice as likely to have an advisor.

"Critically, the single factor in this study that best predicted being invested—and achieving better results—was financial education. This represents a huge opportunity to better support millennial consumers in their financial journey," Gobell said.

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