As an IFA, most of your clients are likely approaching retirement or already retired. This makes sense – by that stage, many people have accumulated substantial wealth and need advice on how to manage it sustainably once retirement starts.
That being said, many advisers tend to ignore other options available to them, and that includes advising younger clients. Young people carry a “lazy” and “entitled” stereotype, yet casting the net wider and including Gen Z – those born between 1996 and 2011 – could mean you gain a long-term clientele with a genuine interest in building wealth.
Continue reading to discover why it may be unwise to ignore Gen Z as potential clients.
Studies show that young people have low financial literacy but are interested in saving and investing
Several studies have suggested that while Gen Z don’t have the best financial knowledge – likely due to a lack of proper education on the subject in schools – they are “hustlers” who prioritise building wealth.
According to the House of Commons Library, several studies of young adults reported that only 2 in 5 are considered financially literate, and two-thirds don’t recall receiving a financial education at school.
Nevertheless, a survey published by the World Economic Forum reveals that 30% of Gen Zs began investing while at school or university. Just half as many (15%) millennials did the same. Plus, Visa research indicates that 45% of Gen Zs have a “side hustle” – a self-starting project that earns them an income on top of their day job.
As such, Gen Z prospects may be keen to build wealth and work hard, but have little formal education or knowledge on the topics of investing, saving, risk, property, and other core aspects. As an IFA, this presents a unique opportunity for you to engage with willing clients who want to learn and are eager to meet their goals.
In the era of social media “advice”, Gen Z clients fall for misinformation
Gen Z are the most technologically adept generation yet. So, it may come as no surprise that while this generation harnesses technology efficiently, they are also vulnerable to being led astray by influencers and other online “experts”.
As you may already know, the FCA is cracking down on “finfluencers” – those who use social media as a platform to offer unregulated and uncompliant advice. This has led other nations to do the same, with some finfluencers even being arrested at their homes.
While finfluencers are on the FCA’s radar, it remains crucial that young people gain advice from those who are qualified to give it. Once again, you can stand out by offering evidence-led, long-term solutions that don’t lead clients down a dangerous path.
Engaging with younger clients means forming a long-term relationship
As IFAs, we always stress the importance of long-term relationships with clients. In 2025, holistic advice is not just encouraged but expected, as the old model of transactional financial planning is rightly becoming quickly outdated.
Gen Z may be the perfect clients to engage with as this sea change occurs. Especially if you are a younger adviser with the whole of your career ahead of you, younger clients might suit you very well – even if you have mostly sought out wealthier retirees in the past.
Gen Z are set to inherit a substantial amount of wealth by the 2050s
While young clients may not be earning a significant amount today – although many already are – Gen Z are set to inherit a healthy sum in the next 30 years.
The Great Wealth Transfer is predicted to see around £7 trillion pass down from older generations to young people by the 2050s, Unbiased reports. Simply put, these clients might find themselves in receipt of a windfall that they do not know how to handle. That’s where you come in.
Gen Z are already accessing advice. Are you missing out?
It seems that Gen Z are already keen to seek professional advice compared to millennials and Gen X. FTAdviser reports that nearly a quarter of this generation are going to professionals for investment advice. Clearly, there is a market for working with young people that some advisers are already capitalising on.
Upon reflection, young people might tick many of your boxes. They are typically:
- Prepared to work hard and build wealth
- Already exploring innovative ways to earn money that may warrant bespoke tax advice
- Interested in investing from a very young age
- In need of professional guidance to achieve their goals, in a world of finfluencers and poor financial education
- Set to inherit a substantial windfall in the next 30 years.
Your practice is unique to you, and you may not have much interest in working with under-30s. But if you have never considered these prospects as viable options before, it might be wise to think again before writing them off.
Work with us
Reaching young clients requires a proactive, modern approach.
Here at Corbel Partners, we believe in allowing IFAs to do the job their way. Our bespoke in-house tech platform gives you a suite of options, so you can interact with clients as you see fit.
Plus, we offer marketing support to help you reach a tech-savvy audience, and our paraplanning and compliance teams enable advisers to spend more time engaging with clients every day.
Interested? Email hello@corbelpartners.co.uk or call 01925 637891.
Please note
This article is for general information only and does not constitute advice. All information is correct at the time of writing and is subject to change in the future.
The Financial Conduct Authority does not regulate tax planning or estate planning.