The next generation of financial planners is entering the profession with a clear view on what it expects employers to offer for their future and also hold a mostly pragmatic take on AI, according to new research from FP Transitions and the FinServ Foundation, released Tuesday.
Future financial planners are entering the profession with a strong sense of purpose and not merely seeking a first job, the 2026 FinServ Foundation Student Survey found.
Instead, next-generation advisors are evaluating whether a firm will provide for their development and a clear path toward becoming an advisor, leader or owner, according to FP Transitions and the FinServ Foundation, who said they gathered responses from 100 emerging professionals studying financial planning and related disciplines.
The survey, conducted for the second straight year, also addressed respondents’ views on compensation and career advancement, as well as how AI influences their perceptions of the financial planning profession.
The top cited compensation component was base salary at 80%, while 14% said equity compensation was a top priority, which the study suggested means students place higher value initially on predictable compensation rather than longer-term incentives.
Respondents also said they considered career advancement, work-life balance, location and other factors as important when seeking a firm they want to work for.
“The future of the financial services profession depends on our ability to understand what the next generation values, how they learn, and what they need to succeed,” according to Jamie P. Hopkins, President of the FinServ Foundation.
“It is through this type of research, collaboration, and a shared commitment across the industry, we can build stronger development pathways that not only attract new talent but empower them to thrive throughout their careers,” he said in a news release announcing the survey findings.
“When we talk about succession and enterprise value, we’re talking about the people that make up a firm. Without a strong pipeline of talent, even the best-laid growth and succession plans can fall short,” according to Elise Rogers, Head of Marketing at FP Transitions. “This research helps firms understand what the next generation is looking for and how to create opportunities that attract, develop, and retain future leaders.”
AI’s Positives And Negatives
Students surveyed generally viewed AI as a tool that could make financial planning more efficient and enable advisors to spend more time on client relationships, according to the firms.
But students surveyed were also quite aware of the downsides of overreliance on AI and the potential of the technology to degrade client experience.
Each respondent identified at least one potential risk they associated with long-term use of AI in wealth management.
Respondents were especially concerned that firms could automate the foundational work traditionally performed by junior employees, killing the roles through which new professionals typically get experience, build judgment and develop critical client-facing skills.
“The concern isn’t that AI will replace advisors. It's that firms could unintentionally remove the developmental experiences that help young professionals become advisors in the first place,” said Rogers. “The industry still needs pathways for people to learn, make mistakes, build judgment, and develop client relationships.”
About 73% of respondents said that potential employers prioritizing AI adoption in the next three years and providing training in AI tools and technology were at least somewhat important.
Other Findings
This year, 96% of respondents said one reason they were interested in financial planning was to help people reach their life goals, an increase from 72% in the prior year’s survey.
For evaluating potential employers, 93% said mentorship opportunities and professional growth were either “very important” or “essential,” making those the top priority of respondents.
Other high priorities included a mission/purpose-driven culture, cited by 84% of respondents, competitive compensation and benefits (83%), a transparent career path (81%), and demonstrated firm inclusivity (71%).
Respondents demonstrated a desire to lead, with almost 39% seeing themselves as a partner or owner of a small or midsized firm within five to 10 years and about 17% expecting to start their own firms.
Jeff Berman, Contributing Editor and Reporter at Wealth Solutions Report, can be reached at jeff.berman@wealthsolutionsreport.com.
