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Data & Research May 1, 2026
Advising Generations, by the Numbers
A Nationwide study found advisers were willing to facilitate family financial discussions that clients often reported avoiding.
Reported by
Edward Rueda
As generational assets increasingly change hands, 94% of surveyed financial advisers shared concerns about the sustainability of their practices, according to a Harris Poll survey conducted on behalf of Nationwide Mutual Insurance Co.
Speaking with 528 advisers and financial professionals between January 15 to February 16, Nationwide found the most common concerns cited were attracting younger clients (17%), finding a successor (16%), profitability (14%) and retaining younger professionals (10%). Advisers also mentioned outdated technology, consolidation, fee pressure and the risk of artificial intelligence tools replacing client demand.
Asked how they adapted their practice to serve multiple generations, advisers’ most common responses were:
- Focusing on retaining clients’ family members (27%);
- Offering more holistic services (25%);
- Investing in technology and digital communication platforms (25%); and
- Offering guidance on investments favored by young investors, such as cryptocurrency (22%).
Communication mattered as well. Almost all advisers (91%) were confident in their ability to facilitate family conversations on sensitive topics such as retirement planning and financial security—43% said it was a regular part of their practice, and another 47% said they did it on request.
Whether clients reached out for help was less certain. Surveying 2,012 investors with at least $10,000 of investable assets, Nationwide found that nearly half (47%) of respondents had not spoken with adult relatives about retirement planning conversations in the past year. Nearly one-quarter (23%) had never discussed any aspect of retirement or end-of-life planning with family.
Investors who had talked with family reported that they discussed end-of-life planning (cited by 45% of respondents), access to financial accounts (42%) and passing on assets (39%). Baby Boomer investors discussed end-of-life planning (50%), access to accounts (47%) and assets (44%). Generation X investors discussed financial security (39%), end-of-life planning (37%) and access to accounts (34%).
