Generations younger than Baby Boomers include Gen Xers, Millenials and Gen Zers. Of those surveyed, 22% of millennials and Gen Zers are now looking for an advisor, while 19% of Gen Xers are doing so.
The study, Northern Mutual's 2020 Planning and Progress Study, is ongoing. The most recent survey of 2,077 U.S. adults, was conducted between April 29 to May 1. The survey found that about 20% of those with a financial plan prior to the pandemic are revisiting it due pandemic.