Unlocking millennials' financial wellbeing mindset

As a millennial, I have recognised a definitive gap in the market, cultivated by the persistent idea that financial advice exists exclusively for affluent and older generations, which set me on the path to empowering young people in both their financial and life journeys.

- Cara Williams, financial adviser, The Hazel Way

We are living in a time where understanding and unlocking a positive money mindset in millennials presents an exciting opportunity.

Research supports this growing need. Ensombl's Future Life Focused research paper, sponsored by TAL, found that young Australians are under indexed in seeking advice and are underinsured - and amid today's cost of living crisis, advisers are in the unique position of helping millennials set themselves up for success.

This does come with a distinctive set of challenges - from navigating the burden of student loan debt to embracing new investment strategies. But with these challenges comes an opportunity to redefine financial advice, making it accessible, relevant, and transformative for the millennial generation empowering them to build stronger financial futures and take control of their life goals. As advisers, we can be at the forefront of a movement that demystifies finance and fosters a mindset shift, turning financial literacy into a foundational tool for independence and growth.

I have often heard millennial clients frustrated that they haven't felt truly seen or understood by professionals.