In the interview below, Linda Shelby, a Merrill Edge executive, sits down with Brendan Byrnes to discuss the most recent Bank of America (NYSE:BAC) Merrill Edge Report. The report is a semi-annual study that puts the behaviors of mass affluent consumers into perspective.

Brendan Byrnes: Another thing you say: "Start early." We're seeing generation Y people come in and they have a different financial perspective. You might think, "Well, in the Internet Age, the Information Age, they'd want to do it themselves."

Gen-Yers love free stuff. They don't want to pay for anything, especially on the Internet. Maybe they invest in what they know; Apple (NASDAQ:AAPL) , Google (NASDAQ:GOOGL), Amazon (NASDAQ:AMZN) , but we're not necessarily seeing that. We're actually seeing them maybe even take more professional advice. Is that what you found?

Linda Shelby: That's exactly right. In fact, that generation, the Gen-Yers, have been coined "Gen-Worry" because they are so much more concerned about the impact of the economy on their ability to reach their long-term financial goals.

We are seeing that, with the wealth of information that they have available to them, and they are so adept at using all of the online tools that are available, they're at the same time becoming overwhelmed with information.

Having the volume of information, and trying to sort through between what's interesting versus what's relevant to them, they are calling upon professionals at a higher percentage than the average American.

Brendan Byrnes owns shares of Apple. The Motley Fool owns shares of Apple,, Bank of America, and Google. Motley Fool newsletter services recommend Apple,, and Google. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.