Bridging the financial advice gap

There’s a growing gap in the world of financial advice—one that’s leaving Gen Z without the guidance they need to make confident, informed financial decisions.

Today’s young adults are facing a very different financial reality than their parents did.

Skyrocketing housing costs, heavy student debt, a tough job market, and little expectation of inheritance (thanks to rising later life care costs) are just a few of the challenges Gen Z is up against. It’s no wonder 73% of Gen Z describe their generation as anxious, compared to just 25% of Gen X who said the same about theirs. And only 49% of Gen Z consider their generation successful, versus 60% of Gen X.

Traditional financial advice doesn’t always land.

Traditional financial advice that may have worked for their parents —such as “buy a home in your 20s” or “save 10% of your income”—often feels out of touch with today’s economic reality. In fact, 44% of Gen Z agree that their parents’ financial strategies are outdated. And when advice doesn’t reflect lived experience, it can be more discouraging than helpful—setting unrealistic expectations or pushing people toward decisions that don’t actually make sense for them.

Left to figure it out alone

With few options that feel relevant, affordable, or trustworthy, many young people are piecing together financial guidance from a mix of sources. Some of it’s useful, but a lot is oversimplified—or just plain wrong. The result? Confusion, mistrust, and common missteps.

This isn’t just anecdotal—our research confirms that more than half of younger generations are worried about their finances (58% of Gen Z and 59% of Millennials) and find learning about their finances overwhelming (55% of Gen X and 57% of Millennials). The main barriers are cost, lack of trust, and the perception that financial services are tailored to older, wealthier individuals. In short, Gen Z often feels like financial advice simply isn’t built for them.

How Financial Services providers can close the gap

To serve this generation effectively, financial institutions need to shift their mindset—and their approach. Here’s how they can start:

1. Design products for today’s realities
   Offer tools and services that reflect the challenges young adults face, such as flexible savings options, affordable, accessible and transparent investing platforms, debt support, and innovative paths to homeownership like fractional investing.
2. Make advice accessible and relatable
   Meet young people where they are—on the platforms they already use. Think short-form videos, gamified budgeting apps, and interactive content that explains complex ideas in simple, engaging ways—but don’t forget offline channels, too!
3. Combine technology with human support
   Use AI and chatbots for quick, routine questions, but provide real human guidance for more complex or emotional decisions. A hybrid approach offers the best of both worlds.
4. Shift the conversation around wealth-building
   For many, starting from scratch is the norm. Financial advice should acknowledge that reality and focus on building financial resilience and opportunity without assuming family wealth or financial safety nets.

A critical moment for the industry

Financial services providers are at a crossroads. They can continue to focus on legacy clients with traditional models—or they can evolve to meet the needs of a new generation navigating a far more uncertain world.

Helping Gen Z isn’t just smart business—it’s essential for building long-term trust and a more inclusive financial system. Because if the rules have changed, the advice must change too.

Statistics taken from our Boomers to Zoomers eBook – click here to download the full report or if you would like to hear more in person, contact Ali or Tara.

Ali Pugh/Tara Bonello du Puis, August 25