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Existing advisers ‘might only see 10%’ of £6trn Great Wealth Transfer
['Dan Cooper']
Money Marketing
Existing financial advisers might only see 10% of the estimated £6trn that is set to be handed down the generations during the Great Wealth Transfer.
That was the warning from FTRC founder Ian McKenna during the Empowering Advisers Through Technology (EATT) conference held in London today (29 January).
“Put those two and two together, you might actually find that out of £6trn, existing advisers will only see 10% of that.
I think it’s something really important to be worried about.”Behind the Headlines: Preparing for the great wealth transferResearch published by BlackRock last year showed that 80% of widows leave their deceased husband’s financial adviser within 12 months.
The main reason given was that women feel excluded in their partner’s relationship with the wealth manager.