6 Conversation-Starters for Advisors to Engage Millennial and Gen Z Clients

How planners and advisors must rethink their approach to servicing the next generations of clients who are comfortable relying on “Finfluencers.”

This article follows up on a presentation at the FP Canada 2025 virtual conference, where the discussion focused on the necessity for financial planners and advisors to adjust their client service model for younger generations who are heavily influenced by social media finance personalities.

The 2024 CSA Investor Index reported that 53% of Canadian investors use social media for money-related information, a figure that jumps to 82% for investors aged 18–24.

The Big Shift: Values Before Valuables

“Big fat questions” are intended to help you understand a prospective client and forge an early connection before you request an asset list, administer the risk-profile questionnaire, or collect other private information for the Know-Your-Client (KYC) form. It is about understanding clients, their values, and their goals before pressing them for sensitive financial details—questions Canadians are generally uncomfortable answering.

Considering these questions in the context of the Millennial and Gen Z generations, it is clear the approach requires adjustment to be softer, more accessible, and more likely to evoke specific, meaningful responses.

Note: As the research for the next generations of investors spans ages 30–50, these questions may need further slight revision depending on the exact age of the person you are meeting. Be patient; you may not get answers until your second or third meeting.

6 Suggested Adjustments to Your Conversation Starters

Beyond ROI: Measuring Personal Goals

These adjusted questions are designed to make the initial conversation more approachable, increasing the likelihood that a client will digest the query and provide meaningful answers. This information gives advisors a crucial window into the client’s current satisfaction levels and helps in the formulation of personalized goals.

The goals of the next generations may not solely be measured in terms of return on investment (ROI). Instead, their success may be measured by whether they are able to meet their personal life goals.

The younger generations turn to social media and finfluencers, in part, because these anonymous sources allow them to avoid judgment. Furthermore, finding a traditional planner or advisor who serves them differently than their Baby Boomer parents were served can be challenging.

The Value of In-Person Expertise

A U.S. study by the Empower Personal Dashboard found that Gen X and Millennials are growing wealth faster than Baby Boomers. Assuming this trend applies in Canada, advisors and planners can significantly grow their assets under management by serving these clients who clearly need and will benefit from personalized, in-person expertise.

Adherence to contemporaneous documentation—the 5 Cs (correct, complete, current, consistent, and contemporaneous)—remains key to meeting regulatory and legal obligations.

When a client from the next generation decides to move from the anonymity of finfluencers to a personal planner, advisors must adjust their personalized approach to meet them where they are. Treat them as an individual, empower them to build a roadmap, and reinforce that young Canadians deserve the advice of human experts.