Monday, December 23, 2024

Families Engaged in Wealth Transfer Planning

2024-03-20  |  investing wealth transfer 

... e revisited regularly to help address the clients' most important priorities."What financial advisors discuss with clients around wealth transfer has shiftedFinancial advisors acknowledge that their conversations with clients around inheritance have shifted in the past five years, and where clients choose to focus varies. Thirty-six percent of financial advisors report their client conversations have shifted in recent years to focus more on establishing and growing wealth to use during their lifetime rather than passing on or giving away their wealth. For those who are looking to create genera...

Mortgage Affordability Gap Between Black and White Renters Narrowed During Pandemic

2024-02-26  |  demographics housing 

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Emerging Trends In Banking And Finance

2021-10-14 12:00:00  |  banking demographics 

... illion in wealth transfers to them from their parents. But, as our research shows, what worked for mom and dad will not be enough to win and keep this younger demographic as a customer," said Jake Tyler, CEO at Finn AI. "Traditional FIs need to bring the trust and personal touch they delivered in branch and phone to boomers into their mobile experience, which is where most younger consumers bank. Tools like live-chat combined with virtual assistants and automated chat can help them deliver this and compete with new tech and fintech entrants." "The way that we bank is changing quickly. The i...

Significant Jump in Concern by Wealthiest Americans Over Proposed Tax Hikes

2021-04-28 12:25:14  |  affluent economy 

...  will need to ensure they are playing a critical role in creating a pathway for smooth wealth transfer to younger generations.” Other insights include: Wealthy investors use multiple advisors and expect those advisors to work together to successfully serve their needs. Advisors should anticipate expectations for service levels among the wealthiest of their clients to continue to rise.Inheritance is becoming a growing factor in obtaining wealth in America; in 2020, nearly two-thirds (66 percent) indicated inheritance was a factor in obtaining their wealth, compared with less than a th...

ESG Investing Key Loyalty Driver For Younger Investors

2021-04-15 12:10:00  |  investing 

...  investors will simply evolve into Boomers over time. Firms with the ability to recognize and address these changing needs will define success through the great wealth transfer.” Following are some key findings of the 2021 study: Younger investors crank up interaction during pandemic: More than half (55%) of full-service investors under age 40 prefer digital channels for communicating with their advisors vs. just 26% among older investors. More than two-thirds (71%) of full-service investors under age 40 have increased their frequency of interaction with their advisory firm during th...