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New estimates predict that baby boomers will pass an estimated $16 trillion to the next generation over the next 30 years, much of it going to the so-called “millennial” generation. The generation often gets painted in broad strokes: narcissistic, lazy and entitled. But if advisors hope to capture this new wealth, they'll need to better understand this generation.
The majority of millennials want an advisor to help manage their finances, but still want to play a significant role in the decision-making, a similarity shared with older generations. Only 19 percent said they want to be “delegators” with their money, while 28 percent said they would rather manage their own finances.
![](https://www.wealthmanagement.com/sites/wealthmanagement.com/files/styles/gal_landscape_main_2_standard/public/millennials-group-selfie.jpg?itok=eC5mTGX9)