If advisers do not engage in the next generation and improve their engagement with women, there is a risk that they will lose assets, delegates heard.
Speaking at PA360 North, Octopus Investments key partnerships director Paul Rose cited the £5.5trn of assets that will be transferred to the next generation. "This is a hard part of business for you to do on your own," he noted. "These clients have more complex needs." Rose cautioned that if advisers do not engage, there is a risk that they will lose assets, which could result in business devaluation. The impact of doing nothing Rose noted that for advice firms, not taking on the next generation of clients is the "death tax" on their business. He explained that advisers have s...
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