Family dynamics: Why intergenerational wealth transfer strategies matter

‘Family dynamics, financial education and emotions’

Jenna Brown
clock • 11 min read

An estimated £1trn will transfer to the next generation in the coming decade (rising to a whopping £5.5trn over 30 years). And while 81% of advisers say it is a huge opportunity, just a third have put a strategy in place to capitalise on it. Jenna Brown looks at the issues...

A mindboggling £5.5trn is expected to pass from one generation to the next in the UK by 2047, with a more modest £1trn set to move hands by 2027, according to research from Kings Court Trust. That's a lot of money moving from one person to another and should be food for thought for all advice businesses with an ageing client bank. Where will the assets that you and your advisers have worked hard to nurture and grow end up? And will you, the adviser who orchestrated that growth, still be in a position to assist after the transfer? Intelligent Pensions managing director Andrew Pennie...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Your Business

All the advice firm acquisitions that have taken place in 2024

All the advice firm acquisitions that have taken place in 2024

Keeping track of the ongoing consolidation of the advice industry

Professional Adviser
clock 06 November 2024 • 3 min read
Brooks Macdonald buys financial planning firm

Brooks Macdonald buys financial planning firm

Acquisition adds around 500 clients

Jen Frost
clock 05 November 2024 • 2 min read
Budget M&A impact: 'We completed three deals' the day before

Budget M&A impact: 'We completed three deals' the day before

Advice firms pushed to get deals in before 30 October CGT changes

Jen Frost
clock 31 October 2024 • 3 min read