A new study published by Facebook provides some insight into the financial attitudes, opinions and behavior of the Millennial generation. Facebook surveyed more than 27,000 people for its report and collected anonymous data from the Facebook conversations of more than 70 million users aged 21-34. 
Distrust of banks
Perhaps it’s not surprising that, in the wake of the subprime mortgage crisis, a number of Millennials who witnessed firsthand how irresponsible behavior by bankers nearly collapsed the U.S. economy now distrust financial professionals. Facebook found that, while more than half (53%) of Millennials don’t know where they should turn for financial advice, only 8% trust financial institutions. Only 36% of Millennials talk to their parents about money, and a frustrated 33% of Millennials know that they could be investing their money better but don’t know exactly how.
While 60% of Millennials indicate that they would love nothing more than to trust their bank and share a partnership/friendship relationship, more than a third of those surveyed would describe their current bank as closer to a “used car salesman” or “aggressor” than a friend.