Just what defines North American 20- and 30-somethings? The first thing that comes to mind is their reliance on the wired world.

“This is the first generation to grow up with the Internet,” says Kavita Joshi, national manager of the client strategy group, student markets, at Royal Bank of Canada. “They don’t know what life is without it. It’s almost like an appendage.”

An advisor site that is little more than a brochure isn’t enough. These prospects want interactivity when they’re online, according to marketing professor David Nowell of Sheridan College in Oakville, Ont.

“It’s very much a two-way street,” he says. “They want to feel involved in some way with the products they buy.”

Young adults also want to feel a sense of control and a respect for their individuality, he adds. Offering them ways to individualize their investments, such as socially responsible investing, is a good way to ensure that they feel connected.

Another defining characteristic is that people in their 20s, particularly early in that decade, want to be rich. Nowell cites research from the Pew Research Center in Washington, D.C., that says 80% of those aged 19 to 25 place wealth as the most or second-most important aspiration in their lives.

The fourth characteristic is that this generation trusts its elders — they like their parents. Generation Nexters maintain close contact with their parents, with three-quarters visiting their folks once a week, and half seeing them every day. “They turn to them for advice,” Nowell says.

This could be a good launching pad for advisors wishing to target the younger market more intensely. If members trust their parents, perhaps they’ll trust their parents’ advisors. — WENDY CUTHBERT