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Millennial Investors More Conservative, Less Trusting Of Financial Advisors Than Baby Boomers And Gen Xers, According To Accenture Survey

Accenture Wealth and Asset Management Services provides management consulting, technology and outsourcing services to financial institutions to optimize analytics for wealth and asset managers, improve advisor productivity, help drive sales, reduce costs and manage risks. Its clients include eight of the top 10 global wealth managers and seven of the top 10 global asset managers.

Methodology

Accenture commissioned an online survey of 1,005 high-income, tech-savvy U.S. investors regarding their relationships with financial advisors as part of an integrated quantitative and qualitative study of investor attitudes and behaviors. Respondents included 253 baby-boomer consumers age 46-70 (median net worth $655,000) 251 Gen X consumers age 31-45 (median net worth $238,000), and 501 millennial consumers age 21-30 (median net worth $70,000) – with an even mix of men and women. All respondents said they have input into household investment decisions; are current investors or intend to invest within three years; and use social media at least every week. The survey was conducted between August and September 2012 following focus group discussions in major U.S. cities with baby boomers, Gen Xers and millennials in July 2012.

About Accenture

Accenture is a global management consulting, technology services and outsourcing company, with approximately 259,000 people serving clients in more than 120 countries. Combining unparalleled experience, comprehensive capabilities across all industries and business functions, and extensive research on the world’s most successful companies, Accenture collaborates with clients to help them become high-performance businesses and governments. The company generated net revenues of US$27.9 billion for the fiscal year ended Aug. 31, 2012. Its home page is www.accenture.com.



Copyright Business Wire 2010
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