The Great American Wealth Transfer is Quickening
Consider this statistic: 4,227 baby boomers are dying every day. That’s 1,542,855 who die each year. This is triggering significant repercussions on how and by whom money is managed. Millennials became the largest generational demographic in 2014 when they surpassed the baby boomer population. Financial advisors should be actively engaged in helping their baby boomer clients with the transfer of over $30 trillion in assets over the next 30 years.
As an advisor, have you been favorably introduced to the next generation by their parents? Have you established an effective means of communication with the next generation in the form of meetings, website content, and digital marketing?