In the face of intergenerational wealth transfer, it is clear the advice industry must adapt to meet the shifting sands of the wider world, writes Stephen Ashurst
Anyone within ten feet of the wealth management industry will be aware of the intergenerational wealth transfer that is looming large on the horizon. Baby boomers are set to transfer a monumental sum of wealth to their millennial and Gen Z inheritors – with some estimates in the trillions of pounds. The figures of the intergenerational wealth shift draw headlines – but what is often less touched upon is that this change isn't purely financial. The wealth transfer will be a step change in ideologies and expectations – both inside and outside finance. The younger generations are digitally ...
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