5 reasons millennials don't trust financial planners

  • ​Confusing jargon


    Although varying levels of skepticism have caused a disconnect between millennials and financial planners, education surrounding the industry is another major divider. "The industry is very confusing to consumers with the ubiquitous title 'financial advisor,'" explained Wang, "which actually includes a very diverse group of professionals such as brokers, financial planners, insurance agents, investment managers and bankers -- each paid differently."

    Some millennials who would be excellent candidates for financial planning services never take advantage because they don't understand what it entails, the benefits of hiring a financial professional or even what type of professional they need.