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Advisors
Register now to manage accounts, create MAx Models and get access to our Knowledge Bank.

Account Holders
Create Account to manage your assets on the Jefferson National Account Management website.

close
Forgot your password?

Advisors
Register now to manage accounts, create MAx Models and get access to our Knowledge Bank.

Account Holders
Create Account to manage your assets on the Jefferson National Account Management website.

close
Forgot your password?

Advisors
Register now to manage accounts, create MAx Models and get access to our Knowledge Bank.

Account Holders
Create Account to manage your assets on the Jefferson National Account Management website.

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July 28, 2015

InvestmentNews: The Great Wealth Transfer is Coming, Putting Advisers at Risk

 

According to an article posted by InvestmentNews, “over the next 30 years, an epic $30 trillion will be passed down from baby boomers to Generation X to millennials.” However, surprising reports from a Corporate Insight survey suggest that only 20% of advisors are targeting these younger family members of their clients, putting themselves at high risk of losing their hard-earned assets. In order for advisors to properly prepare for this wealth transfer, they must first become more efficient at establishing relationships with clients' children and serving the next generation.

The article quotes Vic Preisser, founding director of the Institute for Preparing Heirs, “The largest wealth transfer ever is coming and financial advisors are looking down the barrel of not being used by the heirs of the vast majority of their current clients.” An InvestmentNews survey of 544 advisers reports that 66% of children fire their parents' financial adviser after they inherit their parents' wealth. Lack of relationship between advisors and heirs of clients is the number one reason advisors lose assets when clients leave their wealth to their children. 

Click here to learn more about this great transfer of wealth and how to retain the heirs of your clients.