Just as Millennials (Generation Y) have already transformed various other sectors such as consumer retail, media and technology, by 2038, millennials will become the most important financial generation in America. Hence, the industry should gear up to meet their needs, states Goldman Sachs. Conor Fitzgerald and Sarah Cha of Goldman Sachs point out in their June 24 research report titled: “Millennials – Money Survey” that when Millennials shop, they search for answers in mobile and online communities.
Millennials seek advice from parents
In its latest Money Survey, Goldman Sachs analysts set out to understand how Millennials view, perceive and spend money and what financial products they will be drawn to. According to the survey, Millennials get financial advice from their parents, with...
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