Very interesting article about why millennials aren't relying on/ working with financial advisors to make their investments decisions: http://time.com/money/3101827/why-m...s/?utm_source=taboola&utm_medium=referral
I couldn't get the article to load for some reason. One thing to keep in mind about financial advisors and younger people is that generally (not always) younger people don't have a whole lot of investable assets. They generally have accumulated much less and tend to have most or all of any investable assets tied up in retirement accounts that cannot be rolled over into a brokerage IRA unless / until they change jobs, or taken out of the work account until they're much older and close to retirement. Advisors are generally paid by the amount of money we manage. Someone with a million or ten million is a much more attractive prospect than someone with $10k or $100k. Many firms don't even pay their advisors for accounts under $250k. Of course there are exceptions - those who are born into money, inherit a substantial amount at an early age, or happen to be extraordinarily successful at an early age and accumulate lots of cash or end up selling their company or whatever.
Of course millenials aren't using financial advisors as much as previous generations. For one, they grew up in a time where there was a lot of economic turmoil. They are a bit behind the eight ball in terms of accumulating wealth. Previous generations came of age in the economically booming 80's and 90's, so they would have more of a need for financial advisers. As the economy improves and millenials get back on track economically, you will see that change, I think. It will take a bit of time though.
