Navigating savings strategies for multi-generational clients

By Claire Jones, Head of Strategic Relationships and New Business at Flagstone

The UK’s ‘Great Wealth Transfer’ will see an estimated £7tn pass between generations over the next three decades. As these wealth transitions accelerate, Financial Advisers are finding themselves in a more complex role. They’re no longer managing just individual portfolios, but the financial wellbeing of entire families across generations. 

Today’s client base spans a range of goals, time horizons, and risk profiles. Late-career baby boomers may focus on wealth preservation, while millennials could be saving for homeownership. And generation Z, who are beginning their financial journeys, may have different priorities. 

On top of this, Financial Advisers are grappling with economic instability, as geopolitical tensions fuel uncertainty. Fluctuating interest rates, rising inflation, and market volatility are all contributing to the current challenges.  

Here’s how you can help protect your clients’ cash and build more resilient, multi-generational savings strategies. 

Appreciating diverse generational perspectives 

The share of 25 to 34-year-olds living with parents has increased by over a third since the mid-2000s. So it’s no surprise Financial Advisers are likely to be catering to more multi-generational clients – often all living under one roof. 

But this can pose a challenge, with each generation bringing its own experiences, aspirations, and anxieties to the savings conversation.  

Baby boomers have lived through decades of market cycles. Many are now approaching or entering retirement. They seek stability and predictable income streams as they shift from accumulation to decumulation. This will be especially important given the recent impact of Trump’s tariffs on pension values. Some saw their pension value fall by £120k in April.  

For younger generations, there will be different priorities and reactions to the current economic climate.  

Generation X clients are often balancing the responsibilities of caring for ageing parents while still supporting their children. This makes liquidity especially important. Many in this group view cash not just as a safety net for unexpected expenses, but also as a way to stay agile – ready to act on opportunities like investments. 

Having come of age during the 2008 financial crisis, many millennials are likely to value financial flexibility and transparency – traits that reflect their early exposure to economic uncertainty. 

Recent moves by major UK lenders, including Halifax and Nationwide, have pushed two-year fixed mortgage rates below 4%. For borrowers with strong deposits, some deals are now as low as 3.89%. Analysts expect further reductions if the International Monetary Fund (IMF) interest rate cut predictions prove accurate. As a result, we could see renewed enthusiasm in the housing market. 

For Financial Advisers, this may mean guiding millennials toward a dual strategy of locking in current low mortgage rates while keeping savings flexible. Cash ISAs and Instant Access accounts give clients the power to move quickly – shifting their money if rates rise or fall.  

A similar strategy can suit generation Z, who may be looking to buy their first home. As digital natives at the early stage of wealth-building, they look for intuitive tools and clear milestones that help build good habits and boost financial confidence. 

Generational trends offer useful clues – but real insight comes from individual conversations. Understanding the motivations and timelines that shape saving behaviours helps ensure strategies resonate on a personal level. 

Communicating with clarity 

Financial concepts can be complex. Advisers who translate technical terms into everyday language help clients feel informed, not overwhelmed.  

Flagstone’s recent survey of UK Financial Advisers found that over half are seeing more demand for extra services from existing clients (53%). Meanwhile, 55% are seeing more demand from new clients.  

This surge stems from growing uncertainty, confusion, and fear surrounding changing legislation on Inheritance Tax and cash ISAs. As a result, clients need access to common-sense, plain English financial advice – now more than ever. 

Creating space for cross-generational dialogue – whether around a dining table or via video call – can help families make more confident financial decisions together. These moments can be especially powerful for younger clients navigating their first serious money conversations. 

Tailoring savings solutions to life-stage needs 

Once perspectives and goals are clear, advisers can match savings strategies to each generation’s timescales and risk appetite.  

For more mature clients, this might mean structuring a ladder of FSCS-protected, Fixed Term deposits. These deposits mature at staggered intervals, ensuring access to cash as clients transition toward retirement income. 

Mid-career clients may benefit from Notice accounts or flexible cash ISAs. These offer competitive yields and the freedom to react quickly to property opportunities, make early mortgage repayments, or cover planned expenses like school fees. 

Digital-first Instant Access accounts appeal to younger clients. Millennials and generation Z have benefited from a fintech-driven push to improve financial awareness, which is influencing how they approach cash and savings.  

Our savings inertia report shows that over half (57%) of 18-34 year olds know their current interest rate. Many also report tracking rates regularly and adjusting their strategies to secure higher returns.  

Features like rate alerts, automated round-ups, and goal-tracking dashboards support this proactive mindset – encouraging strong savings habits. 

Scalable and transparent technology  

With the IMF forecasting further rate cuts and inflation surging, Financial Advisers face increasing pressure to act quickly to secure competitive rates for clients. But manually monitoring multiple banks and accounts is inefficient, especially in a fast-moving environment. 

That’s where Flagstone comes in. Our referral portal acts as a control centre for clients’ cash – providing full visibility, timely updates, and streamlined oversight, all in one place. 

Through the platform, advisers can: 

• access a consolidated view of clients’ savings accounts, to measure performance and keep track of every pound 
• receive timely alerts when new, competitive rates become available 
• maintain full control of the client relationship – banks never contact clients directly, and Flagstone doesn’t offer advice or make transactions on their behalf 

By combining personalised advice, flexible savings strategies, and smart tech, advisers can guide clients through every life stage and build lasting trust. 

See how our platform works