Original article by Roy Morgan
Market Research Update – Page: Online : 28-May-18
A Roy Morgan Single Source survey has found that 46.5% of Pre-Boomers with superannuation, managed funds and any kind of wealth management product had purchased them from a professional advisor, such as a financial planner or accountant. Only 7.4% of Millennials who have any type of wealth management product obtained it from a financial professional, and were much more reliant on their employer (89.1%). Generation Z shows a similar picture, with only 4.1% purchasing from a professional, compared to 91.7% from their employer. Nearly one in three Baby Boomers (31.7%) with a wealth management product purchased it from a professional, but they still relied much more on their employer (68.4%). Generation X also relied more on their employer when purchasing one of these products (83.8%) than a professional (17.0%).
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