Abbie Knight: Get your business ready for the £5.5trn wealth transfer

Four key areas to focus on

clock • 6 min read

Preparing their business for the £5.5 trillion intergenerational wealth transfer expected in the UK over the next three decades will put advisers in the best possible position for future growth, explains Abbie Knight

Over the next 30 years, £5.5 trillion is expected to be transferred between generations in the UK, according to the Centre for Economics and Business Research (CEBR). This amount is unprecedented and presents both an opportunity and a threat to the financial advice sector. Whether advisers want to admit it or not, the risk of losing business from younger generations following an intergenerational wealth transfer is real. A study produced by the CEBR and Opinium on behalf of the Kings Court Trust found that 15% of financial advice practices lost 50% of the value of their assets under mana...

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