With this demographic’s net worth set to increase by 500% in the next 15 years, advisors will have to cater to the needs of this growing demographic, report suggests
A new RBC survey finds that those receiving wealth from inheritance — and those passing it on — could use some additional guidance about the way the process works
We’ve all seen the bumper sticker that reads: “I’m spending my kids’ inheritance.” It’s funny, right? Think again, states Toronto-based HomEquity Bank. According to the results of the 2016 Seniors’ Views of Inheritance survey recently conducted for that firm, a surprising 86% of Canadian seniors are unwilling to “forgo doing, achieving or acquiring something” in […]
Financial planners and financial advisors need to have a strategic plan to deal with the massive inheritance baby boomers will receive or risk losing AUM
Build relationships with the next generations of clients
Benjamin Tal, deputy chief economist at CIBC World Markets Inc., explains why the $750-billion inheritance wave expected over the next decade will be saved —not spent — increasing the need for investment advice.
Navigating the variables that could affect clients’ inheritances
Although 28% of millennials in B.C. expect an inheritance of more than $300,000, only 8% of parents believe they’ll be able to leave that much for their children
As elderly clients die and leave estates for their children, financial advisors inevitably will lose some assets from their books, retain some assets and gain some. Here are steps you can take to keep those losses to a minimum and retain the heirs as your clients
Majority have not discussed inheritances with an advisor