Advisers risk client loss over intergenerational strategy failures

Advisers have been urged to ‘develop and deploy’ engagement skills

Sahar Nazir
clock • 2 min read

Advisers are at risk of losing potential clients and business despite believing that taking an intergenerational approach is important, according to HSBC Life research.

HSBC Life has urged advisers to "develop and deploy" improved engagement skills, focusing particularly on digital communication, advice, and guidance. The firm said that embracing intergenerational planning is a mutually beneficial endeavour for both clients and advisers. The research identified the emergence of direct-to-consumer platforms as a potential threat to advisers, specifically in retaining the business of the beneficiaries of a client's estate. Another challenge has come from the inherent scepticism among younger generations regarding the value of professional financial adv...

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