05.11.23
Millennials More Likely To Take Their Money Elsewhere: EY
by: Alex Padalka
Wealthy millennials are more likely than older generations to demand access to alternative investments while at the same time shopping around for alternative providers, according to a new report from EY. The group is 20% more likely than the average investor to be interested in alternatives, 16% more likely to seek actively managed investments and three times as likely than older generations to use digital wallets, according to the report. Furthermore, while only 8% of baby boomers place above-average emphasis on sustainable investing, that rises to 20% for millennials, About 16% of millennials put extra emphasis on diverse teams at their provider, compared to 5% of baby boomers, according to the survey.
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