Bridging the generational divide in financial advice

Speaking at the recent Glacier IdeasLab 2025, Rudolph Geldenhuys, CFP®: Director & Financial Planner at Firecrest Group, and 2024/2025 South African Financial Planner of the Year, spoke on the importance of bridging generations when it comes to the financial advisory industry. Here are some of his key takeouts. 

In every financial planning practice, there are two worlds that often seem at odds: the experienced planners who built their businesses with discipline, professionalism, and structure, and the next generation of planners who favour flexibility, mobility and a more casual approach to client engagement.

It’s a divide that runs deeper than wardrobe choices or office setups. It touches on philosophy, professionalism, client expectations and even what “work” looks like.

One seasoned financial adviser recently vented his frustration after observing his younger colleague at work: “These youngsters just want to sit in coffee shops all day and call it work.” Behind the humour was a serious concern, about professionalism, client confidentiality and what it takes to earn trust. For decades, financial advisers built credibility through in-person meetings, paper-based reports and the quiet rituals of office life. That legacy deserves respect.

But the younger adviser wasn’t wrong either. Flexible work environments, smartphones, instant communication, and digital-first tools aren’t signs of laziness; they’re signs of evolution. Clients increasingly expect on-demand updates, quick responses and advice delivered through the same channels they use daily, whether that’s WhatsApp, Zoom, or an app notification. To younger planners, sitting in a coffee shop with a laptop and client dashboard isn’t casual – it’s efficient.

Tradition vs innovation

This is where the tension lies. The experienced generation often sees younger advisers as lacking the gravitas that financial planning requires. The younger generation sees established advisers as slow to adapt, overly rigid, and resistant to tools that could free up time for more meaningful client work.

Neither is completely right or completely wrong. The truth is that both generations are looking at the same profession through different lenses. The older adviser risks clinging too tightly to tradition; the younger one risks the assumption that technology can replace wisdom. Both have blind spots, but both also bring invaluable strengths.

The client’s perspective

For clients, what matters most hasn’t changed: trust, reliability, and the confidence that their adviser understands them. But how that trust is built has shifted. A Baby Boomer client may still prefer to sit across the table with a leather-bound report. A Millennial client might feel more at ease reviewing a portfolio summary on their phone while commuting. Gen Z clients, entering the workforce now, may expect financial advice to feel as seamless as ordering food through an app.

The challenge for advisers is to serve all these preferences without compromising the integrity of their advice. That requires more than tolerance – it requires genuine collaboration across generations of advisers within a practice.

Where generations meet

The art of financial planning – the empathy, listening, and human connection – remains timeless. The science of financial planning, which includes analytics, compliance, and technology, continues to evolve rapidly. The real opportunity lies in blending these two dimensions.

Imagine a practice where the experienced adviser mentors on the nuances of client relationships, ethical dilemmas and long-term strategy, while the younger adviser drives efficiency with digital tools, automated workflows and fresh marketing ideas. One ensures the advice is wise; the other ensures it is relevant. Together, they provide continuity that reassures clients their financial well-being will outlast market cycles, leadership transitions, and even generational shifts.

From succession to legacy

Many practices talk about succession planning as a handover of business. But the generational divide highlights something more important: legacy. A firm that cannot bridge internal generational gaps will struggle to retain client families across generations. Conversely, a firm that integrates the strengths of both experienced and next-generation advisers positions itself not just to survive, but to grow.

Ultimately, financial planning is not about transactions, it’s about transformation. It is about guiding families through life’s most difficult choices, across decades. To achieve that, advisers must first cross the generational divide within their own ranks.

When they do, the reward is more than business continuity. It is the ability to offer clients a partnership that feels both timeless and forward-looking, a rare balance in a world where change is the only constant.

Questions to ask your team

• Do we serve clients in the ways they prefer – or only in the ways in which we are comfortable?
• How are we preparing to retain the next generation of our clients’ families?
• Where could we save time with technology, and where is the human touch non-negotiable?

What each generation brings

• Experienced advisers: Professionalism, depth of knowledge, long-term client trust, mentoring ability.
• Younger advisers: Digital fluency, accessibility, fresh ideas, new ways to connect with younger clients.
• Together: A blend of wisdom and relevance that builds continuity across generations.

Bridging the divide – three practical steps

• Mentorship circles: Pair experienced advisers with younger team members for two-way learning.
• Client segmentation: Match clients with advisers based on preference –traditional or digital-first.
• Technology with training: Don’t just adopt tools – ensure all generations in the practice are comfortable using them.