Young adults prefer social media for financial advice, but doubt its future benefits, study shows.

A new report by St. James's Place reveals that young adults aged 18-34 are twice as likely to use social media for financial advice compared to older generations. The study, based on a survey of nearly 12,000 individuals, shows that only 18% of younger respondents see future benefit in financial advice. St. James's Place calls for the industry to adapt to digital channels and increase the number of financial advisers to make advice more accessible.

4 months ago
5 Articles