1. Greater than half of millennial respondents anticipate to inherit $1 million or extra.
Most millennials shall be advancing of their careers as their inheritance is available in. Though millennial respondents are usually extra self-directed than older buyers, in addition they need assist. Particularly, 86% of millennial ladies stated they belief the recommendation and selections of monetary professionals.
2. Pre-retiree ladies can even be substantial inheritors.
A lot of the wealth ladies inherit will probably be within the type of a profit following the dying of a partner. Thirty-four % will inherit $1 million or extra, together with 10% who will inherit upward of $3 million. 9 in 10 ladies stated they search for a monetary skilled who understands their life targets past their funds. In addition they need long-term assist, with a 3rd in search of an advisor who proactively builds robust relationships.
3. Eighty-one % of inheritors intend to make use of a monetary advisor.
Nevertheless, solely a 3rd of respondents presently have a monetary skilled with whom they plan to work with after receiving a profit or inheritance. This represents a giant alternative for advisors to faucet into a large market that may probably search to construct relationships with a brand new monetary skilled to assist them handle their cash.
4. Belief is paramount.
For 55% of the pattern, belief was a very powerful consider selecting a monetary advisor. Others targeted on charges and the vary of services supplied by advisory companies.
5. Girls and millennials are open to annuities.
Monetary professionals assist shoppers higher perceive a broad vary of monetary methods, together with annuities. Seven in 10 of feminine respondents stated they might think about annuities in the event that they have been really helpful or supplied by their monetary skilled. Much more millennial respondents stated they might spend money on annuities if really helpful by their monetary skilled or supplied in a office retirement plan.
