We Write for Advisor Magazine on Money Management

Our CEO and Founder, Lilah Raynor, recently contributed to Advisor Magazine in her article “Decoding Generational Money Management.” In it, she explores how different generations in America approach financial decisions in today’s economic climate based on the findings of our recent Logica Future of Money Study. Each generation, from Gen Z to Boomers, has its own strategies and priorities when it comes to saving, investing, and seeking financial advice.

The Importance of Financial Advice
Each generation is looking for financial advice on a variety of fronts and particularly looking for advice during times of economic uncertainty. Although AI tools are gaining popularity on a variety of fronts, including in the financial world, professional financial advisors remain the preferred choice for advice, even among younger generations. 

In the article, Lilah discusses how Gen Z looks for advice on financial decision making on social media, from family and friends and from other sources, including professional advisors. The workplace also plays a significant role in financial help, with this younger generation in particular seeking employer-provided programs for managing finances. This growing interest reflects their desire to secure their financial future and aim for early retirement.

Generational Saving and Investing
Regarding savings, Gen Z and Millennials are more inclined to save today than six months ago compared to Gen X and Boomers, driven by current economic conditions. Our Future of Money Study also shows that younger generations like Gen Z are more aggressive in their investment plans, emphasizing goal-oriented financial planning. 

Choosing Financial Accounts
For each generation, account decision-making is influenced by criteria such as ease of use, credit card options, security against fraud, and data privacy. Lilah shares about how we found younger generations, like Gen Z, will prioritize simplified processes and are more interested in bank or credit union accounts with credit card options when they choose a banking partner.

“Decoding Generational Money Management” covers how financial advice, plans and trends are influenced by each generation’s unique economic situations and goals. Read the Advisor Magazine article to learn more! For information about the Future of Money Study, contact us.