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Pocketmags Digital Magazines
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Pocketmags Digital Magazines

INTER - GENERATIONAL WEALTH TRANSFER AND HOW TO PREPARE FOR IT

Repeated research demonstrates that over four in five investors who inherit money appoint different financial advisers to their parents. Ian McKenna, founder of DigitalWealthInsights.com explains how private offices and wealth managers should prepare for the massive inter-generational wealth transfer that will take place over the next twenty years or so.

In just two years the first millennials will reach 40. This is a generation who cannot remember life before the World Wide Web existed. Information has always been at their fingertips whenever they want it. Over the last decade they have come to rely on their smart phones, tablets and other mobile devices to organise every aspect of their lives, so why should their money be any different?

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The challenges raised by the transfer of inherited wealth to technology focused consumers was one of the main themes explored at the recent Invest 2018 event in New York. The show has become a regular feature of the WealthTech calendar with key industry leaders from around the world converging on Manhattan to brainstorm and share experiences on the technology challenges their organisations face and how it can most effectively be harnessed.

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Family Office Investor issue 5