When it comes to engaging the next generation of clients, advisers should consider the wealth of their business, rather than profit, according to Schroders intermediary solutions director Gillian Hepburn.
Speaking at the first of a series of Working Lunches hosted by Professional Adviser on Tuesday (18 August), Hepburn encouraged advisers to consider whether not making less profit in the short-term would be better for their business in the longer term once their clients' children have more wealth. She said to consider how losing the next generation of families might impact the business. "Have an audit for your business," Hepburn recommended. "If 65% of those inheriting wealth will move away, what might that look like in practice? What might it mean for you to lose those families once t...
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