More than half of Gen X and Gen Y consumers in the U.S. admit having little or no knowledge about investments and financial products, according to a recent LIMRA study.
The study revealed that consumers who work with financial professionals to make investment decisions are more likely than those who do not work with financial professionals to be very knowledgeable about investments and financial products (14 percent versus 6 percent), but only one in five work with a financial professional.
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