Financial advisers unprepared for great wealth transfer

Only a third of advisers have a plan in place for the Great Wealth Transfer

Sahar Nazir
clock • 2 min read

The majority (69%) of financial advisers do not have a plan in place to tackle one of the largest ever transfers of wealth due to take place between generations over the next 20 to 30 years, Octopus Investments has found.

More than half (52%) of clients said that their adviser has not engaged with the beneficiaries of their estate. Nearly a quarter (22%) of advisers think they should have different sales, fee structures or marketing strategies for different generations. The research found that only a third (31%) of advisers have a strategy in place for the Great Wealth Transfer. Regarding asset loss in the event of a client death, almost half (46%) are concerned about losing these assets under management. In fact, 50% of advisers surveyed who have had a client pass away, estimated they have lost a r...

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 profession

The rarely discussed barriers to closing the advice gap

The rarely discussed barriers to closing the advice gap

'The real issue isn't just access, it's attitudes, representation, and engagement'

Harry Webster
clock 04 April 2025 • 7 min read
The Apprentice stars call for more financial advice as online businesses surge

The Apprentice stars call for more financial advice as online businesses surge

‘Crucial that young entrepreneurs receive the right guidance to manage their finances’

Sahar Nazir
clock 03 April 2025 • 2 min read
Trump pushes ahead with global 'reciprocal' tariffs, sending markets into a tailspin

Trump pushes ahead with global 'reciprocal' tariffs, sending markets into a tailspin

20% on EU, 10% on UK

Sorin Dojan
clock 03 April 2025 • 2 min read