How can advisors manage or keep funds from generational transfers?

In a recent post, we argued that technology’s effect on the delivery of wealth management advice has reached a tipping point. One of the 3 drivers that we discussed was the growing momentum in the adoption of cloud-based applications. The second driver was the ability of platforms like InvestCloud’s to offer fast, low-cost applet creation so that more business processes can move into the cloud. Lastly, the third factor we raised, was the massive intergenerational asset shift that will be cresting over the next several years. While the “Great Transfer” from the WW2 Generation to their Boomer heirs is still going on, it will soon be eclipsed by an even larger transfer wave from the Boomers to their millennial heirs. According to Accenture, this wave is starting now and will continue for the next 30+ years. With that, we will then have transferred more than $30 trillion in assets, which will be almost 3 times the amount that is currently moving to the Boomer generation.

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