Retirement Income
5 client trends advisers can’t ignore
How are today’s economic, political, and technological shifts reshaping client expectations – and what does it mean for financial advice?
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Our Retirement Voice: Adviser Edition research uncovers striking changes in attitudes among the UK’s advised population, with clear generational divides emerging.
Among our broader findings, we’ve identified five key client trends that advisers should watch closely – with each offering fresh insight into how they may better support their clients’ needs in a rapidly changing world.
1. Property is gaining ground as a retirement asset
One of the most notable trends from our research is the increasing reliance on property as a retirement asset among the UK’s advised population.
While pensions have traditionally been the cornerstone of retirement planning, only 23% of clients see them as their primary asset – which is down from 33% last year. In contrast, 26% now see their home as their main retirement asset, with 50% expecting to use a combination of property and pension to support them in their later years.
Looking specifically Baby Boomer+ (aged 60-80) and Gen X clients (aged 44-59) – who are not only more likely to own their home than younger clients but will face these exact decisions over the coming years – property will play a key role for both.
Indeed, 50% of Baby Boomer+ clients expect to use their home as either their main retirement asset or use it in combination with their pension. Among Gen X client population, that figure rises to 67%, with 35% viewing their property as their main retirement asset.
2. Cryptocurrency could be the NextGen nest egg
Another emerging trend is the growing interest in using cryptocurrency as a source of retirement income, specifically among younger generations. While traditional retirement planning has centred on state and workplace pensions, Millennial (aged 28-43) and Gen Z clients (aged 18-27) are charting a different course.
According to our research, one in four clients from these younger cohorts (28%) expect to use cryptocurrency to help fund their retirement. This is a significant contrast to Gen X and Baby Boomer+ clients, who continue to rely heavily on more conventional sources like the state and private pensions.
Advised clients are also more likely to hold crypto assets than their non-advised peers (26% vs. 8%), with male clients nearly twice as likely as female clients to invest in digital currencies (27% vs. 15%).
3. Digital communication preferences are evolving
As client demographics shift, so too do their expectations around how they want to engage with their financial adviser. While traditional channels like email (62%) and phone calls (51%) remain the most popular overall, younger clients are increasingly drawn to more dynamic, digital-first formats.
Millennials, for example, are five times more likely than Baby Boomer+ clients to prefer receiving video updates from their adviser (60% vs. 11%). Gen Z clients are also significantly more open to podcasts, social media updates, and even AI-powered communications. In fact, nearly a third of Millennials (29%) and a quarter of Gen Z (25%) say they’d be happy to receive updates generated by artificial intelligence.
Despite this digital shift, the value of face-to-face interaction hasn’t disappeared. More than one in four clients across all generations still prefer in-person meetings, highlighting a potential need for a hybrid approach that can blend convenience with personal connection.
4. Social media has a key role to play in client engagement
While advisers remain the most trusted source of retirement planning support, clients – especially younger ones – are increasingly turning to social media for help with their finances. According to our findings, 60% of Gen Z and 44% of Millennial clients use platforms like YouTube, TikTok, and Instagram to help inform their retirement decisions.
This trend presents both a challenge and an opportunity. On one hand, it offers advisers the chance to meet clients where they are by creating engaging, educational content on the platforms they use. On the other, it raises concerns about the influence of unregulated ‘finfluencers’ and the potential risks of misinformation.
Our data also shows that clients are drawing on a wide range of sources beyond social media. Pension providers are the second most-used source of retirement information across all generations, particularly among Baby Boomer+ and Gen X clients. Government websites and word-of-mouth from friends and family also play an important role, especially for younger clients.
5. Gen X clients are facing a confidence crisis
Among all the generations we surveyed, Gen X clients stand out as the least confident in their retirement planning. Despite their immediate proximity to retirement, many in this group are navigating their financial future with uncertainty and hesitation.
Only 52% of Gen X clients feel confident they’re saving enough for a comfortable retirement, and just 53% say they’ve developed a clear financial plan.
This lack of clarity extends to understanding pension options. Just 58% of Gen X clients feel confident in their knowledge of how to use their pension savings, compared to 72% of Baby Boomer+ clients. Nearly 4 in 10 (39%) also say they feel overwhelmed by the number of options available when accessing retirement funds.
These findings suggest that Gen X clients may benefit from clear, targeted and confidence-building conversations with their adviser.
Dive deeper into the detail
As client expectations continue to evolve, advice firms will be well aware of the need to adapt their services, communication strategies, and planning approaches to meet the needs of a more diverse and digitally engaged population.
From the growing role of property and cryptocurrency to the confidence gaps among Gen X clients, we hope these trends offer valuable insight into how advisers can optimise their support both today and into the future.
To explore the full findings and access deeper insights, download the complete Retirement Voice: Adviser Edition report.
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