Each generation brings unique values, life experiences, and financial priorities. From those who grew up during times of war and economic hardship to today’s digital-native youth, financial needs shift dramatically across the decades. Understanding these differences is crucial—not only for individuals planning their financial futures but also for Advisers looking to offer meaningful, relevant support. While no two people are the same, generational traits offer helpful insight into how people think about money and what kind of advice they’re likely to seek.

Silent Generation (Pre-1946)

Still active in advisory roles and boards, this generation values duty and discipline. They are often financially conservative, with a focus on stability, estate planning, and legacy. Their financial advice needs include aged care planning, wealth transfer, and strategies to manage longevity risk. They may be less inclined to seek financial advice digitally, preferring face-to-face engagement with a trusted Adviser.

Baby Boomers (1946–1964)

Making up around 12% of today’s workforce, Baby Boomers are concerned with retirement security, managing investments, and passing on wealth. They value loyalty and legacy, and often seek advice on how to ensure a comfortable retirement while supporting children or grandchildren. Their openness to financial advice is relatively high, although they may prefer Advisers who take a traditional, holistic approach.

Gen X (1965–1980)

With 27% of the workforce, Gen X is known for its pragmatism and independence. This group is often in their peak earning years but may also be financially stretched due to mortgages, education costs, and caring for both children and ageing parents. Financial advice needs include debt reduction, wealth accumulation, and risk management. Gen X appreciates clear, action-oriented advice that aligns with their delivery-focused mindset.

Millennials (1981–1996)

As the largest generational group in the workforce (34%), Millennials are collaborative, purpose-driven, and growth-oriented. They often grapple with housing affordability, student debt, and the balance between saving and lifestyle. Millennials are more likely to seek values-based financial advice—aligning their financial decisions with environmental, social, and ethical considerations. They favour digital tools and transparent fee structures and are likely to seek Advisers who act as coaches and mentors.

Gen Z (1997–2012)

Also comprising 27% of the workforce, Gen Z are tech-savvy, inclusive, and crave transparency. Many are just beginning their financial journeys and need guidance on budgeting, saving, and investing early. They are less trusting of traditional financial institutions but highly value authenticity and simplicity. Financial education and interactive, mobile-first advice platforms are key to engaging this group.

Gen Alpha (Post-2012)

This emerging generation will be shaped by a digital-first, entrepreneurial world. While they are not yet active in the workforce, early financial literacy and exposure to saving and investing concepts are crucial. Parents and educators will play a vital role in guiding their financial foundations.

The Importance of Financial Advice

Across all generations, tailored financial advice is essential to achieving life goals—whether it’s retiring comfortably, buying a home, starting a business, or building generational wealth. With economic uncertainty, rising costs of living, and increasing financial complexity, seeking professional advice ensures decisions are informed, strategic, and aligned with personal values and goals.

No matter your generation, a trusted financial advisor can help you navigate your current stage of life while preparing you for what comes next. From legacy planning to starting your investment journey, financial advice isn’t just helpful—it’s empowering.

If this article has inspired you to think about your unique situation and, more importantly, what you and your family are going through right now, please get in touch with your advice professional.

This information does not consider any person’s objectives, financial situation, or needs. Before making a decision, you should consider whether it is appropriate in light of your particular objectives, financial situation, or needs.

Referenced some statistics from infographic @motivate.wise

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Disclaimer: The information contained in this article is general in nature and does not take into account your personal objectives, financial situation or needs. Please consider whether the information is appropriate to your circumstance before acting on it and, where appropriate, seek professional advice.