The Great Wealth Transfer
The Great Wealth Transfer refers to the estimated £5.5 trillion set to pass between generations by 2050 - a major shift in the financial landscape that will reshape client demographics and expectations.
And while many assume digital engagement in financial advice will emerge alongside this wealth transfer, it's already happening - with even older, wealthier people currently seeking advice online.
We're Unbiased, the UK's leading AuM growth platform for financial advice firms - we should know!
As new generations enter the market with differing expectations, firms face a dual challenge: adopting digital-first strategies to meet rising demand while building multi-generational relationships to retain existing wealth - especially with 80% of heirs planning to switch advisers.
This shift raises some important questions for senior leaders:
- How can financial advice firms build trust and relationships with the next generation of clients?
- What are the expectations of each generation when it comes to digital and how each generation differs in their approach?
- How can firms balance digital transformation with maintaining personal relationships?
To explore these challenges, we are organising our inaugural Senior Leaders Breakfast, bringing together marketing and revenue leaders for a roundtable discussion.
