According to a report by Accounting Today, the financial services industry faces a generational challenge. With the average accountant in their mid-40s and many financial advisors nearing retirement, firms must prepare for the next wave of professionals.

At the same time, younger clients from Gen Z and millennials are looking for advisors who understand their financial needs. The good news is that Gen Z college graduates are increasingly drawn to finance, accounting and tax careers. Now, firms must step up to meet their expectations and create workplaces that attract and retain top talent. 

Gen Z values growth and learning. A recent report found that 90% of financial services leaders are focused on upskilling their workforce as AI and digital tools become more integrated into daily tasks. To stay competitive, firms must offer robust training programs, mentorship opportunities and modernized onboarding. Providing flexible learning options—such as virtual and self-guided programs—ensures new hired can succeed from day one. 

With 93% of Gen Z using AI-powered tools weekly, firms that embrace tech will have the upper hand in recruiting young talent. From AI-driven data analysis to automated workflows, investing in cutting-edge tools will improve efficiency and appeal to tech-savvy professionals. 

Flexibility, career growth and purpose-driven work matter to Gen Z. Firms that foster mentorship, encourage work-life balance and create clear career paths will gain a competitive edge. By modernizing workplace culture and meeting young professionals where they are, firms can secure both top talent and the next generation of clients. 

"Whether it's giving rookie accountants and tax advisors more training and professional development, implementing more mentorship opportunities throughout their first few years on the job, or making their daily workflows more seamless with the latest tech at their fingertips, today's accounting and tax firms need to make the first move and meet this generation where they're at," the article said, adding that the firms that are scared to change their ways will be unable to recruit and retain this generation of potential employees and clients.