Many recognize the value of advice

Most adults (62%) in a recent survey said they know their financial plans need improvement, but just one third (35%) are seeking help from a financial advisor. At the same time, an increasing number of adults recognize the value of advice. About 18% said they did not have an advisor prior to the Covid-19 pandemic, but have since started working with one. When comparing generations, Gen Zers and millennials were the most likely to say they have started working with an advisor, or plan to start, since the pandemic. Among those working with an advisor, 80% said they built up their savings during the past two years. About half (49%) of those without an advisor said they were able to save more.