{"id":361228,"date":"2026-03-27T16:01:14","date_gmt":"2026-03-27T16:01:14","guid":{"rendered":"https:\/\/www.newsbeep.com\/il\/361228\/"},"modified":"2026-03-27T16:01:14","modified_gmt":"2026-03-27T16:01:14","slug":"what-young-wealthy-investors-want-from-their-advisors","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/il\/361228\/","title":{"rendered":"What young, wealthy investors want from their advisors"},"content":{"rendered":"

Open this photo in gallery:<\/a><\/p>\n

To build trust, young investors expect advisors to safeguard their information, be transparent about fees and performance, and be informed about different products, a new report says.Overearth\/iStockPhoto \/ Getty Images<\/p>\n

Wealthy young investors are still interested in professional financial advice, but they want more engagement and partnership from their advisors, with less emphasis on investment management, according to a recent CFA Institute survey<\/a>.<\/p>\n

A report released this week, based on a survey conducted last summer of more than 2,400 investors in six countries, including Canada, found that younger investors with more than $1-million in investable assets want frequent contact with their advisors and financial planning centred around their lives.<\/p>\n

\u201cTheir expectations for advice, communication, and product choice differ in significant ways from the clients that the current wealth management industry was built to serve,\u201d the report says.<\/p>\n

These millennial and Gen Z clients expect to communicate with their advisors through texts, messaging apps and video calls, and more than 70 per cent said they engage with their advisor at least monthly. <\/p>\n

\u201cYoung investors expect \u2018always on\u2019 access to their advisors and the markets. Advisors should consider automation, chatbots, and personalized digital touchpoints to sustain regular contact between in-person meetings,\u201d the report says. <\/p>\n

\u201cOffer short, digestible updates, interactive dashboards, and real-time portfolio insights to match the cadence of young investors\u2019 engagement habits,\u201d the report suggests.<\/p>\n

Despite rising competition from social media, AI tools and online investment platforms, the report finds that advisors remain the most trusted investment resource. But the competing information is changing their approach.<\/p>\n

\u201cThe role of the advisor is shifting from gatekeeper of information to curator, validator, and translator of an overwhelming digital landscape,\u201d the report says.<\/p>\n

The basis for clients\u2019 trust is also changing. Rather than relying on reputation and interpersonal interactions, young investors expect advisors to safeguard their information, be transparent about fees and performance, and be informed about different products.<\/p>\n

In particular, the report says advisors should provide access to private markets, crypto and values-based investment products to meet client preferences.<\/p>\n

But helping clients resist the investment trend of the day is also important, particularly as more clients adopt a hybrid investing approach. Many young investors admitted to overconfidence and making decisions based on fear of missing out (FOMO), especially when it came to crypto assets. <\/p>\n

\u201cAdvisors can add the most value by coaching clients through volatility, emphasizing investment discipline, and grounding decisions in long-term goals rather than online momentum,\u201d the report says.<\/p>\n

Prospecting, meanwhile, is increasingly about timing. The survey found that younger investors most often began working with advisors after major life milestones, such as buying a home, starting a family, changing careers or receiving an inheritance.<\/p>\n

\u201cAppealing to new clients will require advisors to demonstrate value and expertise during key life events that bring financial goals clearly into focus,\u201d the report says.<\/p>\n

Are you reading us on the web or did someone forward the e-mail version to you? If so, you can sign up for Advisor Weekly here<\/a>.Must reads<\/p>\n

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Exit north: The U.S. government\u2019s decision to decrease its citizenship renunciation fee by more than 80 per cent may result in more Americans in Canada giving up their U.S. citizenship, cross-border tax experts say, as the deadline for Americans abroad to file their taxes approaches.<\/a> <\/p>\n

Squeezed out: Independent asset managers have historically played an important role in delivering differentiated strategies and competitive returns, writes Joe Millott of Fort Capital Partners. But as capital concentrates among fewer firms, investor choice and competition decrease.<\/a><\/p>\n

More from The Globe<\/p>\n

Now taking predictions: Wealthsimple is seeking to offer prediction trading in Canada, a controversial type of betting on real-world events that has surged in popularity in the past year, and has been largely banned in this country.<\/a><\/p>\n

Emerge hearing: Emerge Canada Inc. chief executive officer Lisa Langley told Ontario\u2019s Capital Markets Tribunal this week that she intends to repay $4.7-million that remains owing to investors<\/a> after she settles two court cases in the United States.<\/p>\n

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