Since the beginning of the COVID-19 pandemic, 22 percent of Gen Z and Millennials in the United States who didn't have a financial advisor before decided to start working with one. Only ten percent of Baby boomers made a decision to work with financial advisor from now on.
Share of adults who decided to start working with a financial advisor since the COVID-19 pandemic in the United States in 2020, by generation
Gen Z (n=274), Millennials (n=619), Gen X (n=511), and Boomers (n=581)
Method of interview
Online survey
Supplementary notes
This question was phrased by the source as follows: "How has the market volatility and economic downturn prompted by the COVID-19 pandemic impacted your approach to financial planning?"
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Northwestern Mutual. (June 1, 2020). Share of adults who decided to start working with a financial advisor since the COVID-19 pandemic in the United States in 2020, by generation [Graph]. In Statista. Retrieved May 24, 2022, from https://www.statista.com/statistics/1178181/financial-advisor-covid19-generation-usa/
Northwestern Mutual. "Share of adults who decided to start working with a financial advisor since the COVID-19 pandemic in the United States in 2020, by generation." Chart. June 1, 2020. Statista. Accessed May 24, 2022. https://www.statista.com/statistics/1178181/financial-advisor-covid19-generation-usa/
Northwestern Mutual. (2020). Share of adults who decided to start working with a financial advisor since the COVID-19 pandemic in the United States in 2020, by generation. Statista. Statista Inc.. Accessed: May 24, 2022. https://www.statista.com/statistics/1178181/financial-advisor-covid19-generation-usa/
Northwestern Mutual. "Share of Adults Who Decided to Start Working with a Financial Advisor since The Covid-19 Pandemic in The United States in 2020, by Generation." Statista, Statista Inc., 1 Jun 2020, https://www.statista.com/statistics/1178181/financial-advisor-covid19-generation-usa/
Northwestern Mutual, Share of adults who decided to start working with a financial advisor since the COVID-19 pandemic in the United States in 2020, by generation Statista, https://www.statista.com/statistics/1178181/financial-advisor-covid19-generation-usa/ (last visited May 24, 2022)
