Fewer than one in five investors under age 40 believe they received adequate financial advice following a recent life event, according to a new report.
Cerulli Associates, Boston, published this finding in the second quarter 2013 report of the “The Cerulli Edge: Retirement Edition.” The report examines the characteristics of investors under age 40.
The percentage of households agreeing they are getting enough financial advice following the start of a new job tops out 19 percent in the report, less than one five of those surveyed by Cerulli. The fewest households—just one percent—said they received adequate advice following a divorce.
The percentage of households indicating they received enough advice for other life events was in the single-digits to low double-digits. Among them:
12 percent—moved primary residence
11 percent—New child born into the home
9 percent—Left a job (but not to retire)
8 percent—got married
7 percent—lost a job
6 percent—bought a new home
4 percent—refinanced my mortgage
4 percent—Changed careers