RISK 6
Client Risk
Developing a wealth transfer plan provides you the opportunity to educate the client’s beneficiaries on how to manage wealth.
Seventy percent of family money disappears by the end of the second generation. You can help your clients from becoming part of that statistic by developing a wealth transfer plan to help educate the client’s beneficiaries on how to manage their wealth. It’s more than just keeping assets under management; taking the relationship deeper shows them that you care about the future success of their family.6
According to InvestmentNews, $30 trillion will be passed down from Baby Boomers to younger generations over the next 30 years. Sixty-six percent of children fire their parents’ financial advisers after they inherit their parents’ wealth.6
Key Point
Structuring your client’s assets to minimize the number of items and total dollar value that will need to go through the probate process can save time and hassle for the executor of the will.
