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.
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.