Should younger people be considering financial advice?
A recent survey showed that younger people wish they’d considered financial advice following COVID-19. We’ve explained how you can get financial advice and how it could help.

Important notes
This article isn’t personal advice. If you’re not sure whether an investment is right for you please seek advice. If you choose to invest the value of your investment will rise and fall, so you could get back less than you put in.
17 August 2020
Our recent survey found that 24% of young people aged 18-34 are more likely to wish that they had financial advice in the wake of the pandemic.
Normally, advice is taken up by those outside of that younger age group. And it’s clear that the pandemic has made young people more conscious of how their financial future might look.
This article is not personal advice. If you’re not sure if an investment or course of action is right for you, please speak to a financial adviser. All investments rise and fall in value, so you could get back less than you invest.
We don’t know what’s around the corner
Remote working and staying at home has become the norm and some young people might’ve actually saved money because of these lifestyle changes. Splashing out on a few drinks or dinner has been swapped for FaceTime calls with drinks and meals at home. Expensive holidays traded in for staycations and lunches out have turned into a quick homemade sandwich.
Although there are savings to be made, COVID-19 has also left lots of people financially vulnerable. And this is likely to be the reason for younger people giving financial advice more consideration.
Fortunately, global pandemics don’t come around often but some might’ve or potentially will live through a recession of some sort. When things change so dramatically, it can often show us how comfortable we get when things are going well and how so many of us forget to create a plan B.
It’s tempting to live in the now and forget to tuck away money for emergencies. We generally suggest that everyone has 3-6 months of emergency cash. For young families in particular, this could be the most valuable tip they wish they’d been given.
Financial advice isn’t just for the rich
There’s a perception that advice is something that only benefits the wealthy or those who are older and close to retirement. But the truth is that most of us have financial goals. Young or old, wealthy or not, downturns affect everyone’s objectives and financial planning is something advice could help with.
On a personal level, I consider myself extremely lucky not to have been furloughed. But seeing others around me who’ve fallen on tough times has shown me that things could be very different if I’m not so lucky in the future. I’m now more mindful about how much money I can save as a backup by doing simple things like not buying lunch from a café every day.
At HL, our advice service can help people with a wide range of objectives. You can get a clear plan to help you reach your financial objectives and feel confident about the future.
COVID-19 has shown us how uncertain the future can be. Getting advice in your younger years can help you shore up your financial stability and be prepared for whatever the future holds. It’ll set up a strong foundation for any future financial goals, like saving for a house or saving up to send children to school.
Getting financial advice from HL
If you’d like to talk to us about financial advice, our advisory helpdesk is your first port of call.
This free, no obligation call will help you understand:
- What help and support we offer
- Why our expert financial advisers could be the answer if you need more help
- How financial advice works, including the benefits and charges
Our helpdesk won’t give personalised advice but if you decide to move forward an adviser will be in touch within two working days to discuss things further.
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Important notes
This article isn’t personal advice. If you’re not sure whether an investment is right for you please seek advice. If you choose to invest the value of your investment will rise and fall, so you could get back less than you put in.
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