I love the Millennial generation. Why? They address the friction in their world with innovation and without asking for permission.

Millennials have been making their presence known in industries across the board—from the move to mobility in high tech to fast fashion in retailing. And now, wealth management firms are feeling the effects as this demographic invests in earnest.

Accenture’s latest paper, “Millennials and Money,” gives wealth managers a solid snapshot of Millennial investing preferences. For instance, while a majority feel they know as much about investing as their wealth advisor, most are open to learning about budgeting and cash flow management. Millennial women, in particular, are open to discussing retirement as most plan on working longer than men in the same demographic.

Armed with the information we present in our latest report, wealth managers could tailor a new client experience for Millennials. It should be clear that the traditional experience is not a good fit. For instance, 7 out of 10 Millennials want gamification that will help them learn more about investing and will keep them more engaged in their portfolio. How many wealth management firms do you know that are currently providing that service? And six out of 10 want a platform that incorporates social media and sentiment indices to assist in financial recommendations. This is just the tip of the iceberg; you can read more in the report itself.

If you would like to discuss this topic further or get additional information, please email capital.markets@accenture.com.