This could give people with lower investible assets access to independent advice, while providing a portal that younger people might find simpler, cheaper and easier to use as an entry point into long-term savings.

Conclusion

There are several platforms aiming to deliver financial education to young people, and many up-and-coming services aiming to capitalise on Generation Z/Millennial interest in investing piqued by social media.

However, in an ever-changing economy, there appears to be no perfect, holistic financial product for young savers that can balance all their needs for education or information, short-term savings and long-term pension and investment provision.

Where there is always a place for face-to-face, independent advice, the younger generation are growing up in a very different world than their parents and grandparents and the financial world must adapt to meet their very different needs. 

Saksha Menezes is an intern for FTAdviser