Advisers should 'wake up' to intergenerational wealth transfer

Speaking at Morningstar's Investment Conference yesterday (1 May), Benchmark Capital commercial director Gillian Hepburn said that advisers are starting to become concerned about assets flowing out of their business. According to research from Schroders, only 9% of clients have had conversations with their children about seeing an adviser, she noted. "Intergenerational wealth transfer is an opportunity given the assets remain within the business." Hepburn added: "The key challenge is retaining and growing assets." The research also revealed that 15% of adviser practices lost 50%...