Nearly a third of future beneficiaries have never had financial advice

Respondents would take advice if they were to receive a large sum of money

Isabel Baxter
clock • 1 min read

Nearly a third (31%) of future beneficiaries had never received any financial advice, according to the Personal Investment Management and Financial Advice Association (PIMFA).

The trade body's ‘Under 40 Leadership Committee Report' - published last Thursday (14 December) - explored the views from the perspective of future beneficiaries and the idea of intergenerational wealth. According to PIMFA, part of the reason that future beneficiaries may have never received financial advice might be because from a financial planning perspective, more options are available to individuals before actual inheritance than after. Despite this, the survey results showed that 41% of respondents would take professional financial advice if they were to receive a large sum of m...

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