Study finds Millennials seek advisors for family wealth planning more than Boomers
Updated
Updated · PR Newswire · Apr 28
Study finds Millennials seek advisors for family wealth planning more than Boomers
12 articles · Updated · PR Newswire · Apr 28
Nationwide said 60% of Millennials with financial professionals welcome advisor-led family talks, versus 32% of Gen X and 16% of Baby Boomers and older.
Boomers were far likelier to prefer privacy, at 46% versus 10% of Millennials, even as 64% are transferring or planning to transfer wealth and few have prepared next of kin.
The survey of 2,012 investors and 528 advisors found 90% of advisors already facilitate such discussions, reflecting pressure to manage retirement, incapacity planning and multi-generational client relationships.
With 70% of family wealth lost by the second generation, can advisors truly bridge the trust gap causing this financial failure?
Millennials want advisors in family money talks, but Boomers resist. Is this a communication gap or a fundamental clash over financial privacy?
As $83 trillion changes hands, how do new tax laws and cyber threats reshape the American inheritance for the next generation?