July 19, 2016
Take note, advisers! It would be easy to assume the older generations of ultra-wealthy are thinking more about wealth transfer but our research has found the opposite.
Millennial HNWs are more likely to have a strategy in place for wealth transfer than their older counterparts, 42% already have a comprehensive plan on paper, while only 27% of over 50s can claim the same.
This is surprising given the older generation recognise the importance of having a wealth transfer plan in place. Perhaps they simply haven’t got round to it, or… just maybe, they haven’t had the guidance they need to put an effective plan in place.
The industry is going to have a shake up with a younger cohort of investors who are engaged with the idea of long-term planning. So hold on to your hats, folks… well-prepared millennials are about to start the wealth transfer conversation.
Interested in learning more?
Click through to our SlideShare for more information on the ways in which life assurance can be used as a wealth transfer mechanism.
