CISI Board Director Rebecca Taylor CFPTM Chartered FCSI, made the comments in reaction to research which appeared to suggest that young people would prioritise saving for a property over a pension.
Ms Taylor, managing director of Aurea Financial Planning, said it was a “real missed opportunity” for younger generation.
A study by the CISI and financial services consultancy MRM found 46% of 70 millenials polled believed that young people should be focusing on saving for a property, while 33% thought they should be saving for a pension.
The poll was conducted following the new Lifetime ISA being unveiled. This offers flexibility for under 40s looking to combine their pension and property savings in one place.
Meanwhile, auto-enrolment is set to reach more and more UK employees this year.
Ms Taylor said: “As a financial adviser, I see a lot of people in their fifties, but we see far fewer people in their twenties. While this is understandable - young people often lack assets and disposable income - I can’t help thinking this is a real missed opportunity for these young people.
“Early engagement with money management is key to plugging the savings gap and enhancing young people’s prospects post-work.
“Those that take responsibility and plan accordingly are undoubtedly in a stronger position for the future. However, as a profession, we need to innovate to ensure that access to a professional planner is easy and affordable.”
Sophie Robson, consultant at MRM and author of MRM’s Young Money report, said: “The idea of owning a house is deeply entrenched in the national psyche and while house prices remain as high as they are and wage growth stays sluggish, the quest to get on the property ladder means pension saving is set to take a back seat for some years to come.
“It will be interesting to see whether these attitudes change as auto-enrolment kicks in and if the take-up of LISA proves to be high.
“However, there is a lack of disposable income of those in this age group. This, coupled with the adverse economic climate, means there is a real risk that these initiatives will, at best, trick people into thinking they are saving adequately for their retirement. At worst, it could distract them from the real task of saving little and often.”