What You Need to Know
- Of advisors surveyed, 78% agreed that financial education for students is more important than ever.
- Three-quarters said they are willing to offer free educational services to students.
- But 65% indicated that they are not ready to embrace the financial education challenge.
Many advisors have risen to the opportunity to deliver financial education to students as a core component of their business model, according to a new survey from MoneyGuide.
The survey was conducted in mid-May among some 700 advisors in the U.S., all of whom provide financial advice.
Seventy-eight percent of respondents agreed that financial education for students is more important than ever as it can improve financial knowledge and lead to better personal finance behaviors.
Only 11% said they were neutral on the matter.
Eighty-five percent of advisors surveyed said they are more inclined to offer their time to provide financial education to students when free access to online educational content is available. Only 15% said they were not interested in doing so even if online curriculums were available.