Gen Z and Y would value time with a financial planner

Data released by the Financial Planning Association of Australia (FPA) shows that 81 per cent of Gen Z (born 1995-2009) and 76 per cent of Gen Y (1980-1994) would like to spend more time with a financial planner.

The FPA’s Gifts that Give national research report showed this was significantly higher than the 57 per cent of all Australians who said the same, showing a strong desire for younger generations to seek help.

According to the research, an “intergenerational legacy gift” of time with a financial planer to create money could be popular.

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It found that 65 per cent of Australians prefer to be given something practical, with baby boomers (1946-1964) preferring to give cash or gift cards, and 81 per cent of Australians wanting gifts with a greater lasting impact.

The FPA had also planned to offer member planners with gift vouchers as a way for baby boomer clients to consider investing in the literacy of their adult children and grandchildren.

Dante De Gori, FPA chief executive, said: “Four in five Australians aged 18-39 are keen to work with the emerging breed of financial planning professionals who are committed to nationally mandated higher levels of education, ethics and accountability.

“We stand with Australia for a better financial future, and on behalf of our 14,000+ FPA members, we welcome the opportunity to help more people, from all life stages.”

The report was conducted as part of Financial Planning Week which runs until Sunday 25 August.




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Misleading headline to say Gen Z and Y would "value" time with a financial planner. They might want it, but they don't value it enough to pay the real cost.

Good idea to encourage parents of Gen Z and Y to pay it for them. The parents are more likely to understand the full value and be prepared to pay the real cost.

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