2017/18 research Report SUMMARY

By gender, there was evidence of divergence with 49% of male respondents felt similarly
25% of respondents would apportion a certain amount of a £100,000 windfall to investments... and a half of those would choose to allocate less than £10,000
Millennials value performance above all other factors, when thinking about investments although the investment time horizon for most Millennials means that they have no need to chase performance.
78% of respondents believed they can only receive advice if they have investible wealth in excess of £50,000 but a significant number want advice when they have £10,000 or less.
When asked who they would feel most comfortable receiving advice from, respondents were neutral about seeing someone of their own age (19%), but if offered would take experience (20%) & youth (38%) – i.e. they want a blend of both!

Survey respondents were more interested in money available to them now rather than saving over a 30yr+ investment term for retirement
Research suggests that Millennials prefer to have prior knowledge before making decisions about where to go for advice. 67% of Millennials surveyed felt that the industry was of little or no relevance to them, the Forum members think that can change.
The Forum was encouraged to see that 54% of respondents were prepared to pay an ongoing charge and that 23% would pay ongoing and upfront fees. 45% felt 1% per annum was a reasonable fee for wealth management advice with quarterly comments