A new Spectrem Group report on millennials focuses on income levels rather than net worth in an effort to discover how this generation of high earners is using its significant income to create a portfolio of investment and savings vehicles.
Spectrem noted that the oldest millennials are approaching 40, and the way in which they invest their money has implications for the future of the advisory industry.
"As America's largest generation, millennials have fully arrived as investors,'' Spectrem's president George Walper Jr. said in a statement. "They matter now to all financial advisors and providers who are paying attention to generational changes among investors."
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Michael S. Fischer
Michael S. Fischer is a longtime contributing writer for ThinkAdvisor. He previously reported on trade and intellectual property topics for the Economist Intelligence Unit and covered the hedge fund industry for MARHedge and Reuters News Service.
