Advisers expect to lose half of their client heirs

US advisers doing more

clock • 1 min read

Financial advisers are failing to adequately prepare for wealth transfer and expect to lose more than half of next generation clients, research has found.

CoreData found UK advisers think more than half (58%) of their client heirs will choose not to retain their services once their client passes away. This compares to US advisers, who think just more than two-fifths (43%) of client heirs will chose not to continue with them. The research group surveyed 520 UK and US advisers and found one in five (19%) UK advisers and 11% of US advisers never met the children or heirs of their primary clients. It also found a third (35%) of UK advisers met their client beneficiaries less than once a year. When asked what they were doing to retain ...

To continue reading this article...

Join Professional Adviser

  • Unlimited access to real-time news, industry insights and market intelligence.
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters.
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection.
  • Members-only access to the editor’s weekly Friday commentary
  • 
 Be the first to hear about our events and awards programmes.

Join

 

Already a Professional Adviser member?

Login

More on Your profession

Thousands of PFS members respond to CII takeover consultation

Thousands of PFS members respond to CII takeover consultation

Responses showed ‘passion and strength of feeling’ among members

Jenna Brown
clock 27 January 2023 • 2 min read
Continuum reports record jump in number of new advisers

Continuum reports record jump in number of new advisers

Ambitious growth plans to become ‘a true household name’

Laura Miller
clock 26 January 2023 • 2 min read
Just reports new business sales up 17% led by DB arm

Just reports new business sales up 17% led by DB arm

Completed its largest DB de-risking transaction to date in July

Laura Miller
clock 26 January 2023 • 2 min read