Business Insider surveyed insiders to find the most influential and engaging financial advisors for millennials.Douglas Boneparth; Mary Beth Storjohann; Rianka Dorsainvil; Samuel Deane; Skye Gould/Business Insider
- Millennials have faced one financial hurdle after another: the 2008 financial crisis, student-loan debt hitting an all-time high, soaring living costs, and now, the coronavirus recession.
- Even high-earning millennials struggle to save because of both "lifestyle creep" and an economy that isn't quite as rosy as it looks.
- Business Insider compiled a list of some of the best financial advisors for millennials, based on their engagement and influence in the millennial finance space.
- Some founded their own firms to fill a hole in the market for young professionals, some cater to specific millennial cohorts, and others educate the generation via online platforms.
Millennials are staring down their second recession before the oldest of them turn 40 years old.
Not only did much of the generation graduate into the 2008 financial crisis and its aftermath, while shouldering much of the weight of the $1.6 trillion national student debt and a soaring cost of living, now it has to deal with another massive financial obstacle in the form of the coronavirus recession.
The cumulative effect of all these road blocks has been a generation less wealthy than it should be. Even high-earning millennials raking in six-figure paychecks feel broke.
Fortunately, there are many financial advisors working to make financial literacy and planning more accessible to millennials in an industry traditionally geared toward an older and wealthier clientele. Business Insider compiled a list of the power players in this field, selecting some of the best financial planners and financial advisors for millennials based on research, reporting, and nominations we received.
The financial industry services is vast, so we narrowed this list down to those working at independent firms, which are typically more accessible to younger generations. We took into consideration individuals who have gone beyond the daily service of financial advisors to contribute to the conversation on millennial finances, or who specialize in a niche cohort within the generation, such as the FIRE (financial independence/retire early) community, HENRYs (high earners, not rich yet), and young entrepreneurs. Some are educating millennials on financial literacy via online platforms.
Many of these power players are millennials themselves who founded their own firms after seeing a gap in the financial services market for millennials, and hoped to answer questions that characterize the life stages of 20- and 30-somethings. These individuals span the country, from Seattle to Miami (some even work virtually), and work with clients across a range of net worths.
Here are some of the best financial advisors for millennials, listed in alphabetical order by last name.