The financial services industry is on the cusp of a seismic shift. An unprecedented $83 trillion in wealth is projected to transfer from Baby Boomers to younger generations over the next two decades (Pringle, 2024) . This evolution brings immense opportunity—but also significant risk. Institutions that fail to adapt to the expectations of digitally native, experience-driven consumers risk being left behind. 

This article explores the trends shaping wealth management and private banking, the evolving expectations of Gen Z and Millennials, and our threefold strategy to empower financial institutions in the face of this generational revolution. 

Macroeconomic trends

A. The Demographic Shift

The future of wealth is already here. By the end of 2025, Gen Z will represent 27% of the European workforce and will increasingly become key financial decision-makers (Talent & Careers, 2025). Alongside Millennials, these cohorts form the majority of both the underbanked (61%) and unbanked (60%) (Fredlaw, 2025) indicating massive untapped potential. 

B. Changing Investment Behavior

Far from being financially disengaged, nearly 50% of Gen Z are already investing in the stock market, and they are 45% more likely to start investing by age 21 compared to previous generations (Wigley & Rupal, 2023). 

Yet, their satisfaction with current financial experiences is just 50%, significantly lower than the 71–72% satisfaction rate of older generations. Notably, 73% of Gen Z affirm that customer experience is a key determinant in choosing financial services providers  (Wigley & Rupal, 2023). 

C. The Opportunity—and the Risk 

This wealth transfer represents the greatest opportunity in decades for private banks and wealth managers—but it’s also the greatest risk. Institutions must now compete not only on services and returns but for the scarcest resource of all: consumer attention. 

The Expectations of New Generations

A. What Gen Z Wants 

  • Convenience-first, digital-first: Gen Z expects seamless digital experiences—72% already use neobanks as their primary budgeting tool ( Staff, 2024). 
  • Ad avoidance & brand skepticism: They are adverse to traditional advertising and demonstrate low brand loyalty—with 73% ready to switch banks within the next 12 months ( Forbes, 2024). 
  • Short attention spans: With an average attention span of 8 seconds and only 1.3% of monthly time spent on financial services, capturing and retaining interest requires relevance and immediacy ( Roberto, 2023). 

B. What Gen Z Wants 

While digital-first, 43% of Gen Z still value physical branches, especially for complex or trust-based transactions (Mouka, 2024). This underscores the demand for “phygital” solutions—merging digital convenience with physical presence to offer: 

  • Hyperpersonalization 
  • Sustainable, value-driven services 
  • Omnichannel availability 

C. The Role of Advisors 

Today’s client advisor is more than a financial guide—they are a trusted partner in intergenerational wealth planning. Yet, rising regulatory demands are adding layers of administrative burden, limiting the advisor’s ability to focus on relationship building and strategic counsel. 

Key Challenges 


  • Client Relationship in Transition: Advisors must cultivate meaningful relationships with younger clients as wealth transitions. 
  • Limited Consumer Attention: Competing for attention in a distracted digital world. 
  • Regulatory Pressures: Compliance and security requirements consume advisor bandwidth. 
  • Phygital Complexity: Balancing in-person expertise with digital expectations and hyperpersonalization. 

 

Our Position: A Threefold Strategy for the Future

To support financial institutions and advisors navigating this shift, Gambit propose a threefold strategic approach: 

A. Acquire and Nurture Clients Proactively

  • Deliver real-time, AI-powered advice that anticipates needs—not just reacts to them. 
  • Use gamified insight engines to generate personalized recommendations that drive engagement. 
  • Help advisors focus on strategic interactions, not manual tasks. 

B. Preserve Profitability through Smart Scaling 

  • Shift clients from self-service to advisory, improving value delivered. 
  • Leverage intelligent segmentation to tailor services across client tiers. 
  • Enhance retention through relevant, proactive experiences. 

C. Preserve Profitability through Smart Scaling 

  • Ensure full compliance through our adaptive onboarding platform, adjusting to regulatory requirements across jurisdictions. 
  • Maintain top-tier cybersecurity standards without compromising on user experience. 
  • Free up advisors to do what they do best—build trust and grow wealth. 

Conclusion

The next generation of investors demands more: more personalization, more convenience, more meaning. Institutions that embrace this shift and align their services with these values will lead the transformation of wealth management. Those that fail to adapt risk irrelevance in a rapidly evolving market. 

At GAMBIT, we are committed to enabling this transformation—empowering advisors, enhancing customer experience, and future-proofing wealth services.

 

Sources: 

Pringle, E. (2024, December 24). Millennials and Gen X will inherit $83.5 trillion in the next two decades—but not before spouses of the wealthy obtain their $9 trillion. Fortune. https://fortune.com/article/millennials-gen-x-will-inherit-83-5-trillion-great-wealth-transfer-spouses/ 

‌Decoding Gen Z: The Workforce of the Future. (2025). Talent & Careers. https://www.ie.edu/talent-careers/news-and-events/news/decoding-gen-z-workforce-future/ 

‌Page Restricted. (2025). Fredlaw.com. https://www.fredlaw.com/alert-banking-for-the-new-generations 

Wigley, B., & Rupal Kantaria. (2023, November 17). Speaking to Gen Z: How banks can attract young customers. World Economic Forum. https://www.weforum.org/stories/2023/11/gen-z-banking-finance-money-trends/ 

Staff, B. (2024, October 28). Article. Bestmoney.com; Top10.com. https://www.bestmoney.com/online-banking/learn-more/gen-z-banking 

Forbes.com. 2024. https://www.forbes.com/consent/ketch/?toURL=https://www.forbes.com/councils/forbesbusinesscouncil/2023/08/10/cracking-the-code-of-gen-z-loyalty-programs/.

 

Roberto, T. (2023, August 21). The First 8 Seconds – Capturing the Attention of Gen Z Students. Keystone Education Group. https://www.keg.com/news/the-first-8-seconds-capturing-the-attention-of-gen-z-students 

‌Mouka, M. (2024, August 29). What does Gen Z want from their bank? | bobsguide. Bobsguide. https://www.bobsguide.com/what-does-gen-z-want-from-their-bank/ 

 

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