Next‑Gen Wealth Changes Advice
Research shows next‑generation wealthy investors (Gen Z and Millennials) demand personalized, digital‑first, collaborative advice and are wary of traditional brands — a structural shift in client expectations. Advisors who modernize onboarding, transparency, and digital collaboration stand to win referrals and assets from these cohorts. (moneymarketing.co.uk)
CFA Institute’s Next‑Gen Investors study surveyed more than 2,400 mass‑affluent, HNW and VHNW investors across Canada, India, Singapore, the UAE, the UK and the US. (cfainstitute.org) The US subsample included 149 Gen Z and 151 Millennial respondents, with 92% of Gen Z and 89% of Millennials reporting use of some form of paid financial guidance; 41% already use advice to plan retirement income while 44% say they will in future. (planadviser.com) The CFA report flags a clear appetite for hybrid advice combining technology and human judgment, and it explicitly names AI and realtime digital engagement as essential tools for scaling personalised guidance. (cfainstitute.org) An earlier industry survey found 82% of wealthy young respondents consider themselves AI‑proficient and 70% say it’s important that financial advisers leverage AI and emerging tech in advice delivery. (businesswire.com) Capgemini’s World Wealth Report projects about USD 83.5 trillion will transfer to next‑generation HNWIs by 2048, and its research found roughly 81% of inheritors plan to replace their parents’ wealth firms—most often citing outdated digital offerings or missing products and services. (capgemini.com) A recent Reach3 Insights study reports 58% of Gen Z and young Millennials say financial‑brand language does not reflect how they actually talk about money, with 42% calling brand language “out of touch” and about one‑third saying messaging feels aimed at older generations. (prnewswire.com) Capgemini’s advisory guidance for firms—boost engagement, expand personalised offerings and equip relationship managers with digital tools—frames concrete operational levers linked to retention and next‑gen conversion in the Great Wealth Transfer. (capgemini.com)
