many of these power players are millennials themselves who founded their own firms after seeing a gap in the financial services market for millennials, and hoped to answer questions that characterize the life stages of 20- and 30-somethings. she begins all of her clients’ financial planning needs by focusing on changes that would create the most financial impact and creating action items to help clients attain their ideal life. based in los angeles, castro founded financially wise in 2013 to bring financial planning to professional women in their 30s and 40s — the older cohort of millennials and younger gen xers. in november 2015, she founded your greatest contribution, a financial planning firm where she worked with millennials and first-generation wealth builders. he said he helps his clients bridge the gap between financial and life planning to connect their money with what matters.
he founded virtual financial planning firm illumint in 2017 in washington dc to bridge the gap. a former financial advisor at merrill lynch and charles schwab, moore realized that many young professionals were seeking financial help but lacked the minimum amount of assets to qualify for working with a financial adviser. she launched modern money advisor in 2018 to help these young professionals build a financial foundation. after working as a financial advisor at various firms, she branched out on her own in 2013 when she founded workable wealth to help a group she felt was underserved by the financial planning industry: millennials and gen xers. his firm works with millennials and seasoned investors on everything from financial planning to investment management.
if you’re a millennial, chances are you that you may already consider working with a financial advisor. so if you’re a millennial, it’s a good idea to work with a financial advisor who’s attuned to your specific needs. a cfp could help you create a financial plan for long-term goals, including retirement, education planning and estate planning. you may not want to work with a financial advisor who seems more like a parent than an equal. regardless, be sure you are working with a financial advisor with whom you have a good rapport.
as a millennial just starting out in the workplace, you may not always have the time off to commit to an annual or bi-annual meeting with your advisor. when working with a financial advisor, it’s key that they take into account your short- and long-term financial goals, not just what they think you should be aiming for. that’s ok. while your financial advisor should definitely share with you the statistics about the power of compounding interest and starting early when retirement planning, they should also take your goals seriously. that’s why it’s important that a financial advisor understands your financial goals, which will likely be much different than those of your parents. while hiring a financial advisor when you’re young may be intimidating, it’s not something you should put off for long. whoever you chose should be sensitive to your particular needs and goals, including being familiar with ways to handle student debt, homeownership and budgeting.
millennials are experiencing their second recession in a decade. here are 23 of the best financial advisors who specialize in tackling their if you’re a millennial, chances are you that you may already consider working with a financial advisor. in fact, one 2021 survey says that top financial advisors for millennials justin nichols, nichols financial advice (manhattan, ks) sophia bera, gen-y financial planning (, .
more rich young investors are opting to go without a traditional financial adviser. instead, they are betting they can get good-enough financial planning for millennials as fee-only financial advisors. regardless of your current situation, you have the power to control your money and your many are opting to go it alone, according to a recent survey from the national association of personal financial advisors, which found that 62%, . do millennials use financial advisors? how do millennials find financial advisors? how do millennials get financial planning? is a financial advisor worth 1%?
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