CFA Society Netherlands: Wanted, sparring partner for Gen Z investors
CFA Society Netherlands: Wanted, sparring partner for Gen Z investors
This column was originally written in Dutch. This is an English translation
Information is available everywhere and at all times. How should people filter information in order to make investment decisions? A recent survey by the CFA Institute shows that there is a clear generational difference in the way investment decisions are made. With the impending transfer of wealth to younger generations over the next 25 years, we must therefore start responding now to clients’ changing information needs.
By Anne-Marie Munnik, Director, CFA Society Netherlands
My eldest son (in his mid-20s) has been investing for several years. His aim is to grow his wealth so that he can become financially independent in the future. He also sees this period as a crucial time for learning and invests in developing his knowledge and gaining experience with new products. He uses various sources to gather information, to learn, and to buy and sell: classic books on Warren Buffett, finfluencers on YouTube, information from broker platforms and open platforms with financial news. He does not (yet) have an investment adviser.
My son is therefore a typical Gen Z investor. This is also the conclusion reached by the CFA Institute in its report Next-Gen Investors (March 2026), based on a survey of more than 2,400 retail investors across six major markets, ranging from Gen Z to baby boomers. One of the key observations is that Gen Z investors base their investment decisions on a mix of sources, which clearly differs from that of, for example, baby boomers. For instance, social media is used by 44% of Gen Z investors, compared with just 19% of baby boomers. The biggest difference lies in the use of AI tools: almost a third versus just 8%.
The shift in the types of sources on which investment decisions are based reflects the decentralisation of financial information, a change to which financial firms will need to adapt. Younger generations still consult investment advisers, but alongside many other sources. This means a changed role for the adviser: not the one who knows everything, but the one who helps determine what is relevant, reliable and applicable from all the available information. Positioning themselves as a sparring partner rather than an expert makes the adviser all the more relevant in a world awash with information. The fact that Gen Z still places the most trust in the adviser as a source of information – as the cited survey also shows – presents a significant opportunity.
Interpretation is all the more important, as the research also shows that the abundance of information increases the risk of noise and short-term behaviour. Gen Z investors follow financial markets and financial news closely and tend to overestimate their ability to interpret and control markets. Their social and digital environment also makes them susceptible to making decisions based on FOMO (fear of missing out).
It is precisely in this context that the role of the adviser as a trusted sparring partner takes on extra significance. Not as an additional source of information, but as the person who helps to structure choices, weigh up options and test decisions against long-term goals. In a world where information is decentralised, insight is becoming increasingly scarce. And with that, the core of advisory work is shifting: from providing ideas to improving decision-making. Those who can embrace that role will remain relevant. Because in a world full of information, the problem is not scarcity, but relevance, and it is precisely in that world that a sparring partner for my son could make all the difference.
Read the full article in Financial Investigator magazine