Next Generation Investors and Financial Advice Consumption: An Empirical Analysis

Abstract

Using a questionnaires-based dataset collected from a sample of young Italian students, the aim of this paper is to examine the money management perspective of the next generation investors. The obtained results indicate that the respondents show better perspectives where they are financially independent, make use of more sophisticated saving/investment instruments and come from less wealthy families; however, they usually have no contact with and do not know their family’s financial advisor.Our results corroborate and extend the existing literature on the money management perspective and open a debate on the possible generation gap in the financial advice consumption.