Advising Across Generations: Tailoring Strategies for Gen Z to Boomers

Trivia Question❓

Which generation currently holds the largest share of wealth in the United States, despite making up a shrinking percentage of the population?

Financial planning isn’t one-size-fits-all—each generation has unique priorities, challenges, and opportunities. Understanding these differences helps advisors craft strategies that resonate, ensuring long-term financial success across all age groups.

Gen Z (Born 1997-2012): Building the Foundation
This tech-savvy generation values digital tools, automation, and financial education. Many are just entering the workforce, making budgeting, debt management, and early investing crucial. Advisors can focus on student loan strategies, employer-sponsored retirement plans, and the power of compounding interest. Encouraging financial literacy at an early stage helps them build strong money habits.

Millennials (Born 1981-1996): Balancing Growth and Security
Millennials are juggling career advancement, homeownership, and starting families. Many prioritize financial independence but may be burdened by debt. Advisors should emphasize retirement planning, wealth-building strategies, and tax-efficient investing while considering their preference for socially responsible investments. Additionally, guidance on risk management and insurance can help them protect growing assets.

Gen X (Born 1965-1980): Peak Earning Years, Peak Responsibilities
Often called the "sandwich generation," Gen X is managing college savings, retirement planning, and aging parents. They benefit from strategies that maximize tax efficiency, investment growth, and long-term care planning. Advisors should ensure they’re on track for retirement while balancing present financial demands, including managing debt and maintaining an emergency fund.

Baby Boomers (Born 1946-1964): Retirement and Legacy Planning
Baby Boomers are shifting from wealth accumulation to preservation and distribution. Advisors should focus on income strategies, estate planning, and healthcare costs while ensuring assets are protected and aligned with their legacy goals. Planning for wealth transfer and tax implications ensures their financial legacy is secure.

By tailoring advice to each generation’s needs, advisors can build stronger, more lasting relationships while helping clients navigate their unique financial journeys.

Advising Across Generations: Tailoring Strategies for Gen Z to Boomers

Advisor's Edge

Trivia Question❓