Ten things advisers should know about millennials
By International Adviser, 20 Apr 16
Millennials represent the biggest shift in consumer preferences and behaviour ever seen in a single generation. Stephen Wynne-Jones, head of marketing at Cofunds, discusses 10 characteristics advisers need to know about these 20-30 somethings.
9… and so does price
This generation faces leaving university with an average £44,000 debt and property prices that are eight times their average starting wage.[1]
Millennials are willing to use tech to get the very best deal they can. The cost of financial services, therefore, needs to be explicit and finite.
[1] Average price of first-time home: £221,000 (ONS, November 2015); average graduate salary – £28,000 – AGR Annual Survey 2015
