Intergenerational wealth transfer is an excellent opportunity to create new relationships with the family members of your clients. This is the right time to encourage your clients to recommend you to their family.
Did you know...?
All generations are happy to get involved with intergenerational wealth transfer planning. Only 24% of Baby Boomers, 15% of Generation X and 7% of Millennials would not be happy.
Discussing intergenerational wealth transfer planning improves the likelihood of family members becoming your clients. 74% of Generation X and 80% of Millennials would considering working with the same financial adviser who was involved in the inheritance plan.*
In this section, we look at five key areas to help you:
Tips on how to appeal to younger generations
You might not focus on the following areas if they are not important for your current clients. However, as part of your intergenerational wealth business strategy they should be an area of focus to retain wealth as it passes to the next generation and to attract younger family members as new clients.
* The research was commissioned by Quilter and undertaken by YouGov Plc, an independent research agency. All figures, unless otherwise stated, are from YouGov Plc. The total sample size is 1,544 UK adults, comprised of 529 Baby Boomers, 501 Generation Xers and 514 Millennials. Fieldwork was undertaken between 07/07/2020 - 08/07/2020. The survey was carried out online. Download a summary of the research report.