The Pulse

Needed: Financial Advice Across The Generations

Sixty-nine percent of Americans are concerned about their current financial wellness

A new survey commissioned by intelliflo surveyed more than 2,000 U.S. adults around their attitudes related to their current financial situations and where professional help is needed.

ATLANTA–(BUSINESS WIRE)–New consumer data shows a greater need for financial advice across generations. intelliflo, the leading cloud-based technology platform for financial advisors, today released results from their recently commissioned online survey conducted by The Harris Poll.

Key findings from the survey include:

  • 69% of Americans are concerned about their current financial situation; 64% of Gen Z (ages 18-25), 81% of Millennials (ages 26-41) and 75% of Gen X (ages 42-57) are concerned about their current financial situation.
  • Given the state of the current U.S economy, less than half of Americans (48%) say they are comfortable with their current financial plan.

50% of Gen Z and 39% of Millennials say they are uncomfortable with their current financial plan.

  • Paying down/off debt (28%), retirement planning (26%) and investing/portfolio management (24%) are the top three areas in which Americans say they need the most professional help.

80% of Gen Z and 84% of Millennials indicated there are areas with which they need professional help when it comes to their finances, compared to 70% of Gen X and 63% of Boomers (ages 58-76).

Connecting Consumers With The Resources Needed To Improve Financial Planning

The survey reveals a significant need for greater accessibility to financial advice. As a way to better support those looking to strengthen their financial wellness, intelliflo is now a member of Financial Health Network joining leading-edge financial services, financial technology, and other providers committed to improving financial health for all.

“We are excited to welcome intelliflo as a member of the Financial Health Network,” said Andrea Galvez, vice president, Financial Health Network. “Improving financial health for all requires collaboration across the multiple industries that touch the financial lives of Americans, and we believe intelliflo’s expertise will play an important part in advancing this effort.”

“Our recent survey highlights the widespread uncertainty people are currently experiencing around their financial situations and the many areas in which professional expertise is needed,” said Nick Eatock, Chief Executive Officer, intelliflo. “To help connect consumers with the tools and resources necessary to improve their financial planning, we have joined forces with the Financial Health Network. We are proud to become a member of Financial Health Network as their work directly supports our mission to widen access to financial advice.”




Survey Methodology
This survey was conducted online within the United States by The Harris Poll on behalf of Intelliflo from July 28-Aug 1, 2022, among 2,055 U.S. adults ages 18+. The sampling precision of Harris online polls is measured by using a Bayesian credible interval. For this study, the sample data is accurate to within + 2.8 percentage points using a 95% confidence level. For complete survey methodology, including weighting variables and subgroup sample sizes, please contact Warner May.
About intelliflo
intelliflo widens access to financial advice through leading technology which powers the financial advisory experience. We use open software architectures combined with unmatched industry experience to simplify a complex digital landscape to help advisors compete and grow. Our solutions support over 30,000 financial advisors worldwide, representing over three million end-investors, with over $1 trillion assets serviced across intelliflo.