Description

The Millennial generation holds important and somewhat mystifying prospects for the personal investment management and financial advice community – both in terms of bringing a new talent pool and as the next generation of investors. Companies continue to ponder who they are, how they behave, how they think and their overall differences to preceding and proceeding generations.

In the UK we currently live in a society that has up to 6 different generations co-existing. And, with older generations working longer and Gen Z already entering the workforce, we are now experiencing a new phenomenon – five generations working side by side. We therefore decided to run the Forum again this year to look into ideas around intergenerational wealth, costs and barriers, promotion of the industry and impacts of technology.

Our cohort for 2017 consisted of Millennial staff from firms within the membership, aged between 25 to 40 with an array of job roles and industry experience. Readers should please note the Forum began while we were still the Wealth Management Association (WMA), and therefore this report concentrates mainly on wealth management issues.

We are running the Forum again in 2018 to widen the scope in light of the merger with the Association of Professional Advisers (APFA) in June 2017 and our extended remit as the Personal Investment Management & Financial Advice Association (PIMFA).