The latest Nuveen Wealth Inheritor Research Study has been attracting lots of attention throughout the advisor community. Why? Because it dispels the conventional wisdom that young people who inherit wealth won’t stay with their family’s advisor.
According to the study, four out of five wealth inheritors (80%) who first meet the family advisor as a child or teen will decide to keep working with the advisor—compared to just 54% of those who first meet the advisor as an adult or young adult. What’s not covered in the study, unfortunately, is how few families even have discussions with their children about family finances and wealth.
