As we think about marketing opportunities in the investor world, this is a pretty big – and largely overlooked – one: http://cnb.cx/2j02a5p
Take aways: $30 trillion in the next 3 or 4 decades will be passed from one generation to the next. And advisors usually lose the majority of the accounts as money flows from one generation to the next. That’s the kind of money that could change the fortunes of a lot of companies in the wealth management landscape.
From a marketing point of view, those assets are tied to four of the five most important, universal emotional motivators: family, money, health and safety (the fifth is community).
So, how can your business engage the inheritance opportunity?
One thing the Reuters article didn’t cover: embrace change. The next generation will want to put their thumbprint on the portfolio pretty quickly in most cases. “Stay the course” may need to be a theme, but it should be a secondary one at most.