Poor job prospects, excessive debt and lack of suitable savings and investing habits have, in the eyes of many observers, put the “American dream” beyond the reach of many Gen Y consumers. This cohort—the Millennial generation—is the largest generational segment in American history and will benefit from one of the greatest wealth transfers in history over the coming years. However, Gen Y’s impact on the U.S. economy and the financial services sector is only beginning to be felt.