Engage with the youth of today: Zurich

Speaking today at the Personal Finance Society’s 2013 conference in Birmingham, Mr Wilmott, an intermediary business consultant for Zurich, said: “Advisers need to ensure they are on the field of play with young people. They have to find a way to engage with Generation Y.”

He added that the client of the future will expect advice they value and trust, and someone who understands their goals, in addition to someone who has a visible online presence on social networks such as LinkedIn.

Mr Willmot said: “Recommendations on LinkedIn add great value. Advisers need to start connecting with this demographic.”

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Citing research from Zurich which showed that 33 per cent of those born after 1982 were more likely to buy from an adviser they can research on social media, he warned: “Advisers need to start now.

“They need to identify the socioeconomic mix of their client banks, they need to review and refresh their digital footprints, and must ensure that they can make family links through their investment platforms between existing clients and family members in younger generations.”