Advisors wondering how to appeal to younger investors might want to consider financial planning, according to a study conducted by Northwestern Mutual. The report found younger professionals to be more engaged by financial planning than their older counterparts.

Compared to older generations, more millennials said financial planning makes them feel “excited and inspired.” Twenty-nine percent of surveyed millennials felt that way about financial planning, compared to 22 percent of Gen X respondents and 12 percent of baby boomers.

Younger investors are also more likely to rank themselves “highly disciplined” or “disciplined” in their planning than their older counterparts, with 57 percent of millennials self-identifying in those categories, compared to 49 percent of Gen X respondents and 45 percent of baby boomers.

“Millennials appear to understand more than any other generation the importance of creating a sound financial plan, yet are the least confident they’ve got it right,” says Emily Holbrook, the company’s director of planning. Eighty-two percent of millennials say they need to improve their financial planning, followed closely by Gen X respondents at 79 percent and baby boomers at 63 percent.

The generation that came of age during the Great Recession still carry scars. Less than half of the millennials said they have good clarity on how much they can afford to spend and save, and nearly one in three feels afraid, uncomfortable or guilty spending money even when they can afford to.

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