The data: Seventy-two percent of Gen Z investors say they’ve changed their retirement savings or portfolio ahead of the 2026 midterm elections, more than four times the 17% of baby boomer investors who did the same, per a Nationwide Retirement Institute survey conducted by The Harris Poll. 

Gen Zers are also more likely to seek professional help: 

• 27% have already consulted a financial advisor specifically about election-related risks, compared with 4% of baby boomers.
• 79% of Gen Zers want advisor guidance on the midterms' financial impact, versus 63% of baby boomers.

Why this matters: Gen Zers’ reaction stands out from a calmer investor population overall.  Among all investors, 15% moved money into more conservative or lower-risk investments, versus 24% of Gen Zers.

But not all Gen Zers are retreating to more conservative investments. 

• 24% increased their investment contributions to take advantage of current conditions.
• 19% diversified into different asset classes or sectors.
• And 27% consulted a financial advisor about election-related risks.

Implications for banks and advisors: Gen Zers’ willingness to take action prior to the election creates both a risk and an opening for banks. For investors who are decades away from retirement, the 24% of Gen Zers pulling back into conservative positions during short-term volatility risk locking in lower long-term returns, a pattern most advisors are urging clients to avoid. 

But Gen Zers’ rate of wanting financial guidance, and they get it somewhere other than their broker: 

• Only 1 in 5 Gen Z adults say they would turn to a financial advisor for advice, per a 2025 Investopedia survey. 
• And 64% of US consumers ages 25 to 45 have made financial decisions based on misleading information found online, according to a CFP Board report. 

Banks need to meet younger consumers' appetite for guidance with accessible, credible financial education and personalized advice before they make major financial decisions that could hurt their long-term financial health.

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