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The next 25 years will produce the most massive inter-generational transfer of wealth in history. Cerulli Associates estimates the total amount of this wealth transfer to be in the range of $68 trillion. As an advisor, you certainly want to do everything that you can to retain a large percentage of the assets passing to your client’s heirs within your practice.

Equip your practice to succeed with the next generation
The next generation of investors may be different from the way their parents look at financial advice. It makes sense to offer various advice models that cater to the inheriting generation’s needs and desires. Some of these new clients may want the same level of full-service advice, while others may want an experience that mixes advice with the ability to do some of their investing independently.

A vital aspect of this is offering a robust online portal for clients that allows them access to their information and the ability to interact with their advisor in various ways.

The COVID-19 pandemic has brought video conferencing to the forefront, and the next generation of clients expects this type of access and more. They want to be communicated with by text and other methods that they use in their everyday lives. They also demand website access that is both an interactive and enjoyable experience.

The right software platform
The right client reporting and monitoring software platform like Pulse is a great starting point. The information provided by this platform is invaluable in creating a robust client experience for the new generation of clients and many of your current tech-savvy clients.

The ability to capture and manage client information is the starting point for the online experience today’s clients demand. The degree to which passing assets remains with your firm will depend on creating the online and virtual experience access this new group of clients requires.

Let us at AssetBook help your firm take control of your client data to develop new, robust online experiences for your clients.