Engaging with clients on topics such as cryptocurrencies and non-fungible tokens (NFTs) may be essential for preparing for a wealth transfer to younger generations, delegates at PA360 heard.
Speaking yesterday (26 April), Schroders head of UK intermediary solutions Gillian Hepburn highlighted that about £5.5trn is expected to move across the generations across the next 30 years, into age groups that are increasingly focused on digital assets as a means of investing. Therefore, an emphasis on "bringing clients through that wealth journey" was essential, she said, allowing firms to future-proof and engage with the next generation. She highlighted that 65% of inheritors will not use their parents' finance adviser after they receive the inheritance and that 59% of firms said ...
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