Boomers Will Have $22T in Retirement Assets by 2020

However, Accenture stressed that despite boomers' apparent readiness to trust their advisors, millennials are the real source of opportunity for financial professionals. The survey found 40% of that group are "determined" to pass wealth on to heirs, compared with 25% of older investors. Accenture also found that while nearly three-quarters of millennials are actively investing, only 22% go through an advisor, and those relationships are largely "transactional."

"The behaviors and attitudes of millennials are not just a matter of long-term strategy for wealth managers; they are a leading indicator of the need for change today," Alex Pigliucci, global managing director of Accenture Wealth and Asset Management Services, said in a statement. "The recent financial crisis brought a sea change in attitudes toward investing and distrust for the financial industry across all generations."

Pigliucci stressed the importance of digital communications in maintaining communication with clients, noting that even older generations are likely to be online in some way, although the survey targeted respondents who were "tech-savvy" and use social media at least once a week.

"The explosion of digital and social channels in everyday life is simultaneously spilling into consumers' relationships with their financial institutions," Pigliucci said. "With half of all baby-boom investors currently active in social media and a vast majority active online, the innovations that will capture the millennial generation also will help capture the most coveted demographics among Gen Xers and baby boomers."