Cookie policy: This site uses cookies (small files stored on your computer) to simplify and improve your experience of this website. Cookies are small text files stored on the device you are using to access this website. For more information on how we use and manage cookies please take a look at our privacy and cookie policies. Some parts of the site may not work properly if you choose not to accept cookies.

sections
Home > Salesforce > Rebooting Wealth Management
 

Rebooting Wealth Management

White Paper Published By: Salesforce
Salesforce
Published:  Nov 19, 2015
Type:  White Paper
Length:  13 pages

Over the next 50 years, more than $41 trillion in assets will be transferred from one generation to another. The non-profit Center on Wealth and Philanthropy sets the bar even higher--$58.1 trillion by 2061. Whatever the final figure, the generational shift of wealth represents an extraordinary opportunity for financial advisors.

But this wealth transfer isnít without its challenges for advisors: PwC studies have shown asset attrition rates of more than 50% in intergenerational transfers of wealth, suggesting surviving spouses, and Generation X and Generation Y heirs donít necessarily want to work with the same financial advisor. New agile competitors are emerging. Further, the position of wealth managers is being undermined by disruptive technologies, and the shortcomings of existing technology and legacy siloes within their own organizations.



Tags :