5 Ways To Get Your Clients’ Adult Children & Other Young Professionals Engaged with Financial Planning

Jun 23, 2023

As an experienced Financial Advisor, Planner, or Investment Manager, you likely already know how important it is to start planning early for a successful financial future. Unfortunately, many young adults are not in that head space just yet and wind up missing out on years of potential growth and impact.

Many Advisors we speak with are in the practice of extending planning and Advisory services to their clients’ adult children which can be a cost-effective way to grow the firm. But it can be hard to start those conversations and even harder to get young adults engaged with the financial planning process. If you can get them to see the light, there are countless benefits to starting earlier rather than later.

Longer Time Horizon: Starting early allows for a longer time horizon to save and invest, which can significantly impact the growth of your wealth. The power of compound interest means that even small contributions made over a longer period can lead to substantial savings by the time you reach retirement age. With the right financial planning software, it is easy to model and show this, rather than simply talking about it and hoping it sinks in.

Rising Life Expectancy: Canadians are living longer than ever before. Retirement can last for several decades, and it is essential to have sufficient funds to support your lifestyle during those years. By planning early, you can build a robust financial strategy to meet your long-term needs.

Decreased Reliance on Government Support: Government retirement benefits, such as the Canada Pension Plan (CPP) and Old Age Security (OAS), are valuable, but they may not be sufficient to maintain your desired standard of living in retirement. By taking charge of your financial planning, you can reduce your reliance on government support and have greater control over your future financial security.

Rising Cost of Living: The cost of living tends to increase over time due to inflation. It is crucial to consider the potential impact of inflation on your savings and investments. By planning early and investing wisely, you can help mitigate the effects of inflation and protect your purchasing power.

Flexibility and Financial Freedom: Sound financial planning provides flexibility and financial freedom. By establishing good financial habits early on, you can achieve financial independence sooner, allowing you to pursue your goals and dreams without being burdened by financial constraints.


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Unexpected Life Events: Life is full of uncertainties, such as job loss, health issues, or unforeseen expenses. Building a financial plan can help you create an emergency fund and provide a safety net for unexpected circumstances. This way, you can navigate through challenging times with greater ease and peace of mind.

Tax Efficiency: Financial planning involves optimizing your finances to minimize taxes. By understanding the tax implications of different investment and retirement savings vehicles, you can structure your investments in a tax-efficient manner, potentially reducing your tax burden and maximizing your returns.

Overall, starting early with financial planning and retirement savings empowers Canadians in their twenties and thirties to take control of their financial futures, ensure long-term security, and achieve their financial goals. It provides a solid foundation for building wealth, managing risks, and enjoying a comfortable retirement.

How can we get adults in their twenties and thirties engaged with the financial planning process? What types of things do they care about, and what financial questions do they want answers to?

In a recent financial planning webinar, we’re tackling this exact topic.

The Case Study prospective client is Charles Thompson, the 33-year-old adult son of our long-time client. He was born in 1990 and he resides in Ontario. He graduated from a Masters program several years ago and is currently employed full time. He has great earning potential for the future and is investing but without much direction. He isn’t necessarily thinking about his retirement just yet, but he is definitely starting to think about his future.

The financial questions this 33-year-old has for us are:

  • Where am I headed with the savings I’m making now?
  • How can I balance my current and future lifestyles?
  • Should I repay my student loans faster or continue investing?
  • Can I afford to buy a $500,000 home in a few years?
  • Should I be worried about what I’m seeing in the markets?

Charles’ father, our long-time client, is hoping we can address these questions for his son and essentially prove the value of starting to plan now versus later in life to Charles.

Watch the webinar to see how we can address these relevant and important financial questions in real-time for Charles.

What other ways can Advisors connect with young adults?

Additionally, there are other things Financial Advisors can do to engage with young adults and help to spark an interest in financial planning.

Education and Awareness: Many young adults may not fully understand the importance of financial planning or the long-term benefits it can provide. Financial Advisors can conduct workshops, seminars, or webinars specifically tailored to this age group, covering topics such as budgeting, saving, investing, and retirement planning. By increasing financial literacy and raising awareness about the potential impact on their future, Advisors can help young adults recognize the value of proactive financial management. Using a financial planning software tool in real-time can help to facilitate group or individual meetings where questions are answered and modelled on the fly. For example, you could model the difference between beginning to invest into a TFSA at age 25 versus 45 in mere seconds. Even when the regular contribution amount starts small, the long-term impact is significant.

Personalized Approach: Financial Advisors should take the time to understand each young adult’s unique circumstances, goals, and aspirations. By customizing their advice and demonstrating how financial planning aligns with their individual values and objectives, advisors can make the concept more relatable and meaningful. This personalized approach helps young adults see the direct relevance of financial planning in their lives. This is the exact approach taken in the video above, where the client’s specific questions and concerns are being addressed.

Long-Term Goal Setting: Encouraging young adults to set long-term goals is crucial. Advisors can facilitate conversations about what they want to achieve in the future, such as buying a home, starting a business, or retiring comfortably. By breaking down these goals into manageable steps and illustrating how early financial planning can accelerate their progress, Advisors can motivate young adults to take action.

Technology and Digital Tools: Young adults are typically comfortable with technology and digital platforms. Financial Advisors can leverage this by providing user-friendly financial planning tools, mobile apps, or online calculators that allow individuals to track their progress, visualize their savings, and simulate different scenarios. By integrating technology into the planning process, advisors can enhance engagement and make financial planning more accessible and convenient.

Real-Life Examples and Success Stories: Sharing real-life examples of individuals who started financial planning early and achieved their goals can be inspiring for young adults. Success stories can illustrate how disciplined saving, smart investing, and long-term planning can lead to financial independence and a comfortable retirement. These stories can serve as powerful motivators for young adults to take their financial futures seriously.

Collaboration and Support: Financial Advisors can create a supportive and collaborative environment that fosters open dialogue. Young adults may have concerns or questions about financial planning, and Advisors can address these by offering guidance, answering questions, and providing reassurance. By establishing a partnership based on trust and understanding, Advisors can build long-term relationships with their clients and cultivate a sense of accountability.

For a transparent, easy-to-use and highly flexible financial planning software that can address relevant financial questions in real-time, Financial Advisors and Planners are invited to trial Snap Projections free for 14-days.

The Financial Advisor's Marketing Guide


The Financial Advisor’s Marketing Guide

Learn how to build an online presence, create and share valuable content, and engage with prospects and clients through email marketing.