Just 29 percent of millennials have sought the advice of a financial professional, a figure that hasn't gone unnoticed by the industry. After all, millennials stand to inherit $30 trillion as part of the great transfer of wealth in the next three decades.
To stay relevant, financial advisors are recognizing that technology has to be a big piece of their pitch to this generation.
"The expectation is being set by all of us, since we all live in a digital world," said Kendra Thompson, North American lead for Accenture's wealth management service.
Of course, technology can be expensive, but tech spending isn't really an option anymore, said Joel Bruckenstein, a certified financial planner and founder of the Technology Tools for Today, or T3, conference for advisors.
"Technology is not an expense, it's an investment," he said. "If you're getting an almost immediate return on your investment, what's the difference?"