The next generation of investors is here. Gen Z (born between 1997 and 2012) is stepping into financial markets earlier than previous generations did and they’re rewriting the rules of wealth management along the way. For savvy firms, those are rules you want to brush up on; the Gen Z demographic is worth paying attention to.
Why? Simple. Gen Z is predicted to be the largest and richest economic force by 2035. And they’ll have amassed more than $74 trillion in income by 2040.1
That’s not a typo. The largest intergenerational wealth transfer in history is underway. If you adapt now to meet Gen Z investor expectations, you’ll be future-proofing your financial advisory firm for decades ahead.
Here are a few Gen Z-specific considerations you should be thinking about.
1. The Digital-First Generation Has No Patience for Paper
Gen Z grew up with mobile banking, tap-to-pay and investing apps like Robinhood and Acorns. Sending faxes, filling out paper forms and waiting for physical mail feel almost as foreign to them as rotary phones.
For them, seamless, mobile-first experiences aren’t “nice to have,” they’re the baseline. They expect to open accounts, sign documents, check performance and connect with advisors without ever needing a printer or a mailbox.
If your firm still relies on manual paperwork and outdated onboarding processes, you’re doing more than creating friction. You’re signaling that you’re out of step with their world.
The good news? Platforms like Docupace help firms easily digitize operations, eliminate paperwork and create intuitive, smartphone-ready client experiences. That way you can meet Gen Z on their terms while improving back office efficiency.
2. They Want Purpose and Partnership
Unlike previous generations who focused primarily on financial returns, Gen Z wants their money to align with their values. A whopping 85% of them are happy to accept returns lower than the S&P’s average 12% if it means investing in causes they care about.2
Another defining characteristic of Gen Z? They don’t want to be kept in the dark. Gen Z expects clear, transparent communication about where their money is going, how it’s growing and what impact it’s having. And because they’re so used to services with personalization, they crave personalized advice tailored to their individual goals.
To win Gen Z loyalty, you’ll need to go beyond standard financial planning and become a partner in their wealth goals.
3. To Gen Z, Education Isn't a "Bonus," It's Part of the Service
Another crucial shift: Gen Z doesn’t just want answers. They want understanding. And they’re doing their best to get it for free online. In fact, this generation is five times more likely to gather financial tips via social media than adults over age 41.
What they aren’t getting is personalized financial advice. So, they value advisors who provide education, insights and tools that empower them to make informed decisions. Delivering education in accessible, digital formats will help you build trust and position your firm as a true partner in their financial growth.
Future-Proof Your Firm by Meeting Gen Z Where They Are
The firms that thrive in the coming years will be the ones that recognize this shift now and evolve to meet Gen Z where they are today. Want to learn more? Download our infographic: What Gen Z Investors Want and How Advisors Can Deliver.
