The ranks of wealthy Gen Xers and millennials are growing fast, but the percent working with financial advisors is dropping, which opens a wide avenue of opportunity for advisors, Fidelity Investments said.

Gen Xers, those born from the early 1960s to 1980, and millennials, those born in the 1980s and 1990s, now make up 18 percent of the millionaires in the United States, says Fidelity in its “Millionaire Outlook Study” released Tuesday. In 2012, they made up only 8 percent of millionaires.

But only 58 percent of them work with an advisor, a decrease from 72 percent who did five years ago.

By 2030, these two generations will surpass baby boomers in holding the most wealth in the country.

Advisors need to take these numbers seriously and ask themselves how they can serve these new millionaires, said David Canter, head of the registered investment advisor segment at Fidelity Clearing & Custody.

“Gen X and millennials don’t manage their finances in the same way that their parents did,” he said. “They want an advisor who will be their own personal CFO and organize and simplify their financial lives.”

The two generations expect 16 percent returns, while baby boomers expect 7 percent. Sixty-two percent of the younger generations expect their financial advisors to provide comprehensive services.

More than half of the 610 millionaires surveyed (53 percent) also said they would leave an advisor who did not use technology to give them access to their financial information, while only 29 percent of baby boomers said the same thing.

Fidelity Investments said advisors should get feedback from clients on their approach to planning and tailor services to the Gen X-millennial market.

Advisors need to establish relationships with their clients’ children. Only 16 percent of advisors are actively targeting the younger generations, Fidelity said.

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