X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.
words in block letters spell Wealth Transfer along with personal finance and beneficiary (Photo: Shutterstock)

Baby boomers, the wealthiest generation in history, are quickly aging. There are an estimated 73 million baby boomers in the US, making them the second-largest age group after their children (millennials), born between 1982 to 2000. By 2030, it is estimated that all boomers will be at least 65 years old. As a result, an estimated $68 trillion will be passed from boomers to millennials over the next three decades, making it the largest transfer of wealth in history.

Most studies suggest that 80% or more of millennials will look for a new financial advisor after inheriting their parents’ wealth. While the stakes are incredibly high, there’s good news. As advisors, you are in a truly unique position to oversee the complexities of the great wealth transfer and ensure that clients and their families are prepared. This will require an inordinate amount of planning, important discussions, and a lot of due diligence. These seven steps will help you drive client and asset retention, as well as organic business growth.

Complete your profile to continue reading and get FREE access to BenefitsPRO.com, part of your ALM digital membership.

Your access to unlimited BenefitsPRO.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Critical BenefitsPRO.com information including cutting edge post-reform success strategies, access to educational webcasts and videos, resources from industry leaders, and informative Newsletters.
  • Exclusive discounts on ALM, BenefitsPRO magazine and BenefitsPRO.com events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com

Already have an account?

 

BenefitsPRO

Join BenefitsPRO

Don’t miss crucial news and insights you need to navigate the shifting employee benefits industry. Join BenefitsPRO.com now!

  • Unlimited access to BenefitsPRO.com - your roadmap to thriving in a disrupted environment
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com
  • Exclusive discounts on BenefitsPRO.com and ALM events.

Already have an account? Sign In Now
Join BenefitsPRO

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.