Your clients are moving forward — can your business keep up? While it's impossible to completely tell what the future will hold, there are trends you can follow to see where we're going and how to continually evolve to best serve your clients.
There are a variety of new reasons why people are turning to financial professionals, even when they have more options than ever for managing their money online without ever speaking to a human being.
More tech, more trust
A recent survey conducted by Simon Kucher revealed that 78% of respondents between the ages of 18 and 40 would be willing to pay a premium for personal interaction when it comes to financial planning.1 Roughly half said that online providers were not personalized enough.2 Millennials and Gen Z investors are clamoring for a combination of online, self-directed options combined with in-person interactions with a financial professional.
These younger adults may be considering marriage, starting a family, or buying a home or business — how can you make sure they (and their families) are protected? This is a great time to talk to them about their plans for retirement saving.
Households are changing
An estimated 55% of Americans live in multi-generational households.3 This means that two or more adult generations (and sometimes grandchildren) are sharing a home. Instead of saving for a first home, younger generations who live with their families may be looking to put their investments elsewhere. This trend may also mean that older individuals might not be downsizing just yet, and their financial needs may be different than their “empty nester" counterparts.
Your clients' plans for long-term care, funeral planning, life insurance and paying college tuition may all need a fresh review. Start conversations about these needs during your next meeting.
Getting down to business
According to a report from CEOWORLD, the U.S. ranks number one for countries supporting entrepreneurship based on a variety of factors such as innovation, competitiveness, infrastructure, labor skills, access to capital, and openness for business.4
What does this mean for financial professionals? For one, your clients who branch out on their own don't have the support of an employer-sponsored retirement plan and automatic paycheck deductions. Make sure you are available to help clients protect their future while navigating the financial side of going to work for themselves.
How to help your clients
One important reason clients sign on and stay with their financial professionals is that they want meaningful relationships built on trust. Yes, people love technology and digital platforms that allow 24-7 access to accounts, but they also want to be in touch with an actual person. According to a report from WealthTender, 86% of financial advisor reviews convey strongly positive sentiment, underscoring widespread client trust and satisfaction, compared with 14% that focused on portfolio management.5 This indicates the value clients put on personal relationships with their financial professional.
The best way to gain that trust is to display credibility and professionalism. For credibility, that means being transparent, having the proper credentials, and continuing your professional development.
Meanwhile, professionalism goes beyond showing up on time and wearing a spotless shirt. It means being a good communicator. It includes listening to your clients with empathy, especially during a lifetime milestone such as losing a parent or spouse, or suddenly juggling the expense and exhaustion of being a new parent. It also involves understanding their goals, and taking a long-term approach to the relationship.
The role of the financial professional will continue to evolve as clients' needs change. Keep these trends in mind and don't shy away from initiating conversations about topics that may impact your clients' financial goals.
Read more about building client trust in a skeptical world.
Sources:
- Simon Kucher “2022 Wealth Management Study,” January 2023.
- Simon Kucher “2022 Wealth Management Study,” January 2023.
- Lombardo Homes, “New Survey Sheds Light on Multigenerational Living Trends and Dynamics,” June 2024.
- CEOWORLD, World’s Most Entrepreneurial Countries, 2024.
- WealthTender, “2025 Voice of the Client Study,” May 2025.
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