Intergenerational planning – are advisers missing an opportunity?

Intergenerational planning has become an increasingly important topic within financial services, yet within the pensions space it is often underutilised. While pensions are widely recognised for their role in retirement planning, their potential as intergenerational tools is sometimes overlooked. We believe this represents a significant opportunity for advisers, not only to enhance client outcomes, but to build deeper, more enduring relationships.

Pensions are inherently long-term structures. Unlike many other financial products, they are designed to span decades and, in many cases, extend beyond a single lifetime. Changes to pension rules have reinforced their role in estate planning, making them an increasingly valuable component of intergenerational wealth strategies.

However, while the technical benefits are well understood, the practical application is often limited. Many clients remain hesitant to involve family members in financial discussions. These conversations can feel complex or sensitive, and without a clear starting point, they are frequently avoided altogether. As a result, opportunities to educate and engage the next generation are missed.

For advisers, this presents a valuable opening. By facilitating broader discussions that include family members where appropriate, advisers can help clients take a more holistic view of their financial position. This is not about introducing complexity, but about broadening the conversation—moving from individual planning to a more integrated, family-focused approach.

Engaging younger generations early can have a meaningful impact on long-term outcomes. Many younger individuals interact with pensions only through auto-enrolment and often have limited understanding of how these arrangements fit into their wider financial plans. Creating early awareness can help build better financial habits, improve engagement, and ultimately lead to stronger retirement outcomes.

There are also clear relationship benefits for advisers. Building connections across generations can create continuity and strengthen trust, helping to ensure that relationships extend beyond a single client lifecycle. In an increasingly competitive market, this can be a key differentiator.

Of course, these conversations must be approached with care. Not all clients will be comfortable involving family members, and advisers must remain sensitive to individual circumstances and preferences. However, for those who are open to it, the potential benefits are significant. By encouraging broader engagement, supporting clarity, and enabling better visibility of pension arrangements, advisers can help clients think beyond their own retirement.

This broader engagement between generations paired with new technology such as the iPensions Group portal, can help bridge the gap between the generations so that when the time comes the expectations are already set and the transition can be seamless.

Disclaimer

The content of this article is for general information purposes only and should not be construed as legal, financial or taxation advice. You should not rely on the information contained in this article as legal, financial or taxation advice. The content of this article is based on information currently available to us, and the current laws in force in the UK. The content does not take account of individual circumstances and may not reflect recent changes in the law since the date it was created. It is essential that detailed financial and tax advice should be sought (as well as legal advice where required) in both the UK and any jurisdiction where you are resident.

iPensions Group Limited is authorised and regulated by the Financial Conduct Authority, Licence Number 464521.