Bloomberg Surveillance · Sunday, August 30, 2026
Financial advisors are facing a challenge in retaining clients during the Great Wealth Transfer because younger generations feel unheard and unrelatable to traditional advisory approaches. This disconnect leads to a high likelihood of clients seeking new advisors who better understand their goals and lifestyles.
“Why is that number so low? Why do people feel like they have to make a change?”
“Well, I think for so long, they feel unheard or unseen by the financial advisor, especially in this scenario where it's the next generation. They probably are looking at that advisor as like, no offense, but old dinosaur. Like they're not talking to me in a way that makes sense. They're not like relating to me where I'm at with my goals, with my different lifestyle.”
“So I think that's the element where they decided to look for somebody on their own and then start to have family conversations with this newer advisor, aka me. instead of that traditional advisor?”