Winning young customers: How financial advisors are reaching millennials and Gen Z

When the 32-year-old heir of your long-standing client rejects personal advice and switches to a neobank instead, this is not an isolated case. Financial advisors are increasingly realizing that an entire generation is at risk of being lost. While robo-advisors and digital platforms are scoring points with millennials and Gen Z, traditional advisors are losing out. Yet the potential is enormous: in 2025 alone, CHF 100 billion will be inherited that needs to be managed.

Those who act now and understand how millennials and Gen Z deal with money will secure clients for the next 30 years. This article shows what expectations young generations have of financial advice, what products they need and how you can modernize your offering without throwing your proven business model overboard.

The most important facts at a glance

• Millennials (born 1981-1996) and Gen Z (born 1997-2012) differ fundamentally in their financial behavior from previous generations
• Digital channels, transparency in fees and sustainable investments are crucial for customer acquisition
• Low entry barriers such as pillar 3a solutions or ETF savings plans enable early customer loyalty
• Hybrid advisory models combine personal contact with digital accessibility and meet the expectations of young customers
• Digital platforms such as Everon support advisors with FINMA-regulated technology, co-branding and modern product solutions

Millennials and Gen Z: two generations, different needs

Before you adapt your strategy, you should understand who you are targeting. Millennials and Gen Z may seem similar to outsiders, but they differ in key ways.

Millennials or Generation Y were born between 1981 and 1996 and are now 28 to 43 years old. In Switzerland, they make up around 1.5 million people. They are in the middle of starting a family, are thinking about buying real estate and are beginning to build up assets in earnest. Retirement provision becomes an issue from the age of 35 at the latest. These digital natives have grown up with the internet, but still experienced an analog childhood.

Gen Z was born between 1997 and 2012, is currently 12 to 27 years old and doesn’t know a world without smartphones. With 1.2 million people in Switzerland, this generation is mostly at the start of its career. Their first savings are being invested and pillar 3a is being opened. Unlike millennials, Gen Z is more pragmatic and security-oriented, shaped by financial crises and the pandemic.

The following overview shows the most important differences:

Characteristic	Millennials (Gen Y)	Gen Z
Years of birth	1981-1996	1997-2012
Age 2025	28-43 years	12-27 years
Life situation	Mid-career, family, real estate	Career entry, education
Financial focus	Asset accumulation, retirement provision	Initial savings, pillar 3a
Technology	Facebook, Instagram, LinkedIn	TikTok, Snapchat, Discord
Values	Work-life balance, search for meaning	Pragmatism, security

What young generations do differently when it comes to investments and pensions

The financial behavior of millennials and Gen Z differs fundamentally from that of their parents. Both generations do intensive online research before every consultation. Google, financial blogs, Instagram finfluencers and Reddit provide information - often before you are even contacted. Reviews from other customers are crucial.

There are differences in savings behavior : Millennials save regularly, but phases such as buying property or parental leave lead to interruptions. Gen Z, on the other hand, has a higher savings rate. The uncertainty following coronavirus and the climate crisis have made this generation more cautious. Pillar 3a is used, but often only from their mid-30s onwards, leaving untapped potential for advice.

The two groups differ significantly in terms of risk tolerance. Millennials rely on ETFs and diversified portfolios and move in the moderate risk range. Gen Z is more willing to experiment: cryptocurrencies and individual shares are bought more frequently, but there is also uncertainty about the right strategy.

The issue of sustainability is particularly important. According to UBS Investor Watch, 70 percent of under-35s want to invest sustainably. For Gen Z, ESG is not a nice-to-have, but a must-have. Greenwashing is quickly recognized and punished. Millennials prefer ETFs, sustainable funds and pillar 3a solutions. Gen Z is also interested in crypto exposure, themed ETFs with a tech or ESG focus and micro-investments.

Reading tip : Affluent banking: targeting the wealthy middle class

Transparency, digital, sustainable: the new rules of the game

Young customers have different expectations of financial advice than previous generations. Those who fail to meet these expectations will lose them to digital providers.

• Transparency infees is at the top of the list. Complicated cost breakdowns or hidden small print lead to abandonment. Robo-advisors show an all-in fee of 0.5 to 1 percent and are clear and understandable. They should be able to keep up.
• Digital accessibility is a matter of course. Young customers expect 24/7 access to their portfolio via an app. Onboarding should be digital, without paper documents. Video advice must be available as an option. The expectation: opening an account in ten minutes, as with neobanks. Millennials expect a response to inquiries by email within 24 hours, Gen Z prefers real-time chat.
• Authenticity is replacing the classic bankster image. Young customers are looking for an advisor as a coach, not as a salesperson. Communication should take place at eye level. Whether you or you are used depends on the context - the attitude is more important.
• Educational content is not only appreciated, but expected. Finfluencers on Instagram and TikTok explain financial topics in a free and understandable way. Advisors who offer educational content themselves (blogs, videos, webinars) position themselves as experts rather than just salespeople.
• Flexibility means: no high minimum investment amounts. The ability to start with 5,000 francs and increase this with salary increases opens doors.

From LinkedIn to WhatsApp: using the right touchpoints

Traditional acquisition via advertisements or flyers no longer works with younger generations. You need to be where these target groups spend their time. The following overview shows which channels are worthwhile for which generation:

Channel	Millennials	Gen Z	Effort	Recommendation
LinkedIn	★★★	★★☆	Medium	Mandatory
Instagram	★★★	★★★	High	Recommended
YouTube	★★☆	★★☆	Very high	Optional
WhatsApp	★★★	★★★	Low	Mandatory
Website/ Blog	★★★	★★☆	Medium	Mandatory

LinkedIn is a must for every financial advisor. This is where B2B and B2C communication takes place. Share specialist articles or financial tips once or twice a week. Thought leadership builds trust.

Instagram is suitable for visual, educational content. Short reels with financial tips in 30 to 60 seconds reach both generations. Story highlights can present topics such as pillar 3a or ETFs on a permanent basis. Authenticity beats perfection.

YouTube works for longer explanatory videos. A five-minute video “Pillar 3a simply explained” brings organic traffic. The effort is high, but the reach is long-term.

TikTok is the hotspot for Gen Z, but difficult for financial advisors. Only those who are truly authentic should use this channel. Forced content is recognized immediately and does more harm than good.

WhatsApp Business is ideal for quick inquiries and appointments. A website chat offers real-time support or at least a chatbot for common questions.

Email marketing remains relevant, but the content must be short and scannable. A monthly newsletter with a maximum of three topics is sufficient.

Your website must be mobile-optimized, as over 50 percent of traffic comes from smartphones. Clear call-to-actions, a live chat function and prominent testimonials are standard.

Reading tip : Customer acquisition for financial advisors: How to win new customers

Which investment products young customers really need

Not every product is suitable for young customers. The decisive factors are low entry barriers, flexibility and transparency.

• Pillar 3a is perfect for starting a career. Payments can be made from the age of 18. The tax advantage is convincing: payments of up to CHF 7,258 per year are deductible for employees (as of 2025). For young customers with a long investment horizon, ETF-based 3a solutions are recommended instead of traditional savings account options. Everon offers ready-made solutions here through its partnership with Liberty, a leading 3a pension foundation.
• ETF savings plans impress with their low costs and broad diversification. You can get started for as little as CHF 100 per month. Popular themes are world ETFs, emerging markets or tech focus.
• Sustainable funds and ESG investments are no longer a niche product for young investors. Real impact is important, not greenwashing. Everon offers a sustainability strategy with its own rating system that defines minimum criteria for sustainable securities.
• The vested benefits account is often overlooked, but is crucial for seamless retirement provision when changing jobs or becoming self-employed.
• Private markets are becoming interesting for wealthy millennials. Private equity, private debt and private real estate offer diversification.
• Crypto exposure is of particular interest to Gen Z. A small addition of 5 to 10 percent is justifiable, but requires clear information about the risks. Alternatively, blockchain ETFs can be chosen, which are less volatile.
• Real estate financing becomes relevant for millennials aged 30 to 40. Mortgages and early withdrawals from pillar 3a or pension funds are topics where you as an advisor can provide added value.

Eight strategies for financial advisors: How to win over young customers

Theory is good, practice is better. These eight strategies will help you attract millennials and Gen Z.

1.Build a digital presence

Optimize your LinkedIn profile and post regularly. Modernize your website: mobile, fast, with clear call-to-actions. Start a blog with SEO-optimized articles.

2.Lower the barriers to entry

Avoid high minimum investment amounts or set them below CHF 10,000. Use pillar 3a as a door opener. Offer modular advisory packages: Basic, Premium, VIP depending on your assets and needs.

3.Focus on transparency

Communicate your fee model clearly on the website and in the initial consultation. An all-in fee is easier to understand than complicated breakdowns. Everon uses the Portfolio Engine to visualize the investment logic transparently so that customers can understand why which securities are chosen.

4.Offer hybrid advice

The initial meeting can take place via video call. Annual reviews combine face-to-face meetings with digital formats. Portfolio monitoring should be possible at any time via app. Everon provides a mobile app for end customers that enables 24/7 access to the portfolio.

5.Integrate ESG investments

Make sustainable investment strategies the default option, not the exception. Be transparent about ESG criteria. Everon offers a preconfigured sustainability strategy that has been developed on a scientific basis and can be integrated with just a few clicks.

6.Use educational content

Write blog articles on financial topics that interest your target group. Produce short videos or reels with practical tips. Organize webinars on current topics such as “First steps in ETFs” or “Optimizing pillar 3a”. The rule of thumb: 80 percent education, 20 percent sales.

7.Activate referral marketing

Referral programs work extremely well with young customers. A “Bring a Friend” bonus of 500 francs for both sides is motivating. Place testimonials and reviews prominently on your website.

8.Invest in the right technology

Digital onboarding tools, a CRM for lead management and a platform that serves advisors and end customers are essential. Everon is an example of an all-in-one solution: FINMA-regulated, with co-branding options, comprehensive training and technical support. You focus on advice, the technology takes care of the rest.

Digital platforms as trailblazers

Many advisors shy away from digital transformation because they believe they have to develop everything themselves. This is a mistake. B2B platforms take the technical burden off your shoulders.

As a FINMA-regulated asset manager, Everon offers a suitable platform for financial advisors. End customers also have access to an app. The offering includes digital onboarding, portfolio management tools, training and support.

Via Everon, financial advisors can offer their clients asset management, pillar 3a, vested benefits solutions, private markets, AMC and much more. The proprietary portfolio engine is based on a systematic, scientifically sound approach that specifically avoids behavioral biases. Strategies such as Multifactor, Income, Smart Global Markets, Sustainability and Private Markets can be flexibly integrated.

Multiple awards from “Bilanz” as best asset management underline the quality. The co-branding model ensures that your logo remains visible in the customer app. You remain the main brand while using modern technology in the background.

From 30 to 60 : Long-term customer loyalty

Winning young customers is the first step. Accompanying them for decades is the second.

Life-stage-based advice means guiding customers through different phases of their lives. At 25 to 30, you start with pillar 3a and the first ETF savings plans. Between 30 and 40, this is followed by real estate financing, family planning and more intensive wealth accumulation. From 40 to 50, the focus is on children’s education and closing pension gaps. From 50 onwards, the focus is on pension planning and portfolio rebalancing.

Automated touchpoints such as annual reviews or life event triggers for weddings, births or job changes keep the relationship alive. Community building through customer events, exclusive webinars or LinkedIn groups further strengthens the bond.

Reading tip : Target group specialization in financial advice: more sales, fewer customers

Act now and secure the customers of the next 30 years

Millennials and Gen Z are not an unreachable target group. They are reachable. But only if you accept their rules of the game. Digital, transparent, sustainable and with low barriers to entry: These are the success factors.

If you don’t act now, you will lose market share to digital providers. But with the right strategies and technologies, change is feasible. You don’t have to develop everything yourself. Platforms such as Everon enable you to adopt a modern approach without giving up your tried-and-tested business model.

Your next steps:

• Evaluate your current offering: Is it Gen-Y/Z-ready?
• Talk to platform providers about partnerships
• Start with a pilot project: a LinkedIn content series, a webinar on Pillar 3a or a digital onboarding offer

The customers of the next 30 years are waiting, now is the best time to get started.