Baby boomers are the least likely cohort to seek financial advice: study

Professionals offering personalized financial advice have emerged as a key reverse mortgage industry referral partnership. Still, a new study illustrates that older Americans are the most reticent to seek it out according to a new study conducted by Charles Schwab. Operating from a data set consisting of 1,000 401(k) plan recipients between the ages of 21 and 70, only 62% of baby boomers indicated they would like personalized investment advice for their retirement accounts. The positive response rate increases for each successive generation:...