Young, ambitious and forward-thinking clients are often "overlooked and underserved" by traditional Financial Planning, believes the MD of a Financial Planning firm which targets 'next gen' clients.

In an 'Inside My Business' feature for Financial Planning Today magazine's latest issue James Mackay, MD of Frazer James Financial Advisers in Bristol, says that the 'Amazon generation' is too often ignored by mainstream planners.

Younger clients have grown up with instant ordering via Amazon and similar services and expect great service, fast responses and complete transparency, he says.

He adds that his younger clients often have a good income but have yet to accrue the asset base of the traditional older Financial Planning clients.

Despite this they demand more from their Financial Planner with regular meetings throughout the year, according to Mr Mackay.

While younger people are the key target for financial apps, Mr Mackay said many of them have questions an app cannot answer. This is the clientele he targets.

In the article in Financial Planning Today magazine he said: “I have no doubt younger people are happy to invest through apps, many of my friends are.

"But these people are not our clients. People pick up the phone to us when they have big questions that an app cannot answer. Lots of young people do not have the complexity that requires advice, but many do and we want to be the firm of choice for those people.”

He said his firm’s approach is proving popular with young people: “They are certainly coming on board. From a standing start, I’ve taken on 35 clients in the last 9 months.”

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