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
Morgan Stanley launches Institute of Family Wealth Management
Report highlights potential pitfalls couples face when transferring assets to the next generation
It pays to build relationships with your clients’ children
By not meeting the spouse or children of a well to do client, you’re losing out on growing your business