A great transfer of wealth is already in progress and advisers need to sit up and take notice to retain client assets that pass through the generations, delegates at PA360 North heard.
Speaking on 5 October at PA360 North, Schroders intermediary solutions director Gillian Hepburn said it was possible for advisers to adapt and change to meet the needs of the next generation of clients but it would mean "thinking differently and shifting the mindset". She urged advisers to undertake a simple client audit to work out how many client assets were at risk of leaving their business should a client die and leave that wealth to a spouse or other family members. Hepburn added it was essential advisers work out how to better serve the next generation to build strong relationships...
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