Millennials and Gen Z can now take control of their financial futures following the launch of a new service.
Informed Generation has been set up by Informed Financial Planning after the award-winning firm identified an underserved demographic cohort of ambitious, career-minded younger people.
With financial advice often perceived as being exclusively aimed at high-net worth individuals or the over-50s, Informed Generation aims to debunk the myth by attracting digitally fluent generations of prudent planners and savvy savers.
Six young employees at the East Yorkshire firm will manage the primarily digital service, which is being made affordable through using everyday technology such as video calls, text, email and online forms.
Jessica Crawford, IFP’s head of business development, is leading the new initiative. She said: “We undertook thorough research which confirmed that a significant percentage of 20-35-year-olds are ambitious and switched on when it comes to money, but that they are being disregarded and priced out by the independent financial advice sector.”
She said that Informed Generation had aspirations to attract a UK-wide customer base and added that there was a woeful lack of focus on future wealth makers from established industry players.
“There are platforms and apps aimed at this market, but these tend to be algorithm-driven, whereas our team of young financial whizzes will be offering a tailored and personal service.
“Informed Generation is not only staffed by young people, crucially it is designed by young people, which is vital if we are to be successful in addressing this gap in the market and resonating with our target audience. They want it to be fast and fun and don’t want heaps of paperwork through the post.”
Canny customers can expect fixed fees for top-notch pension, investment and cashflow advice to set them on the road to meeting shorter and longer-term financial goals.
Jessica Crawford added that online marketing and social media was increasingly attracting millennials to extremely risky investing such as in crypto currency and Forex trading. “We aim to educate on this among providing sound advice on the more mainstream routes to financial success and security.”
The staff, aged between 22 and 35, are: financial planners Charlene Coulbeck and Josh Richardson (both of whom are FCA authorised); Jessica Crawford, head of business development; Ellie Dickens, business development assistant; Lewis Atkinson, compliance officer and Ash Biglin, senior paraplanner.
In recent years, Informed Financial Planning has worked on improving the appeal of financial services to younger age groups though social media activity, blogs and videos. The firm is committed to educating about the benefits of managing money and planning for the future.
PICTURED: From left, Lewis Atkinson, Charlene Coulbeck, Josh Richardson, Ellie Dickens, Ash Biglin and Jess Crawford.