May 24, 2016 04:34 AM EDT

Millennials In The Workplace: Human Advisers Vs Online Tools For Finance

By Jane Reed

Millennials are a different breed of workers. They are believed to be brought up with technology surrounding them. It is believed that their environment deals mostly with computers than with traditional methods. So it is surprising to learn that they're opting for the much more traditional method than face a robot enhanced knowledge base.

A subset of Millennials are quietly embracing the traditional approach when it comes to finance. They are actively investing in building relationships with financial advisers. The Street  has it that this new motion is the key to financial success. Phoenix Marketing International calls them "Active Wealth Millennials." These Millennials are engaged in financial management. They comprise of about half the wealthy group. They shell out about $100,000 in investable assets. They make sure their money is always in motion which means they have made at least a minimum of three investments in the last six months or so. The demographic of this group is around the age of 31 and are looking at financial advisers to address specific investment issues, needs and wants.

According to David Thompson, a Phoenix Marketing researcher, "This news is good for the adviser community." However, the study also showed that the very same group of Active Milllennials want to be involved in the management of their finances. They could be learning while tagging along with the financial advisers. They may mean to take charge of their finances. That's exactly what Lena Haas, a Senior VP at E-Trade, thinks. She calls it a "hybrid model." Haas explains that these Millennials don't exactly choose online methods over human tradition. They're much more focused on the end goal which is why they rely on both online tools and human support.

This new spike shows younger investors wanting a relationship with a trusted adviser, particularly when making complex financial decisions.

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