03.09.22

Young Investors Still Prefer Human Advisors Over Digital Services, Cerulli Says

by: Financial Advisor

A Cerulli Associates survey found young investors continue to favor human advisors over wholly digital investing, with just 20% of emerging affluent investors (under 45 and with less than $250,000 in investable assets) saying they expect to open online accounts on their own. Fifty-one percent of respondents said they would prefer opening an online account with one-on-one support, while 29% said they would want to do it during a meeting with a financial advisor and 22% wanted a company representative to walk them through the process. Moreover, 34% of emerging affluent investors said they had no issues working with financial advisors, up from 20% in 2017.

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