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...
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