Excessive-net-worth traders aged 44 and youthful have a tendency to attend for a particular life occasion earlier than in search of monetary recommendation, together with getting married, shopping for properties and beginning households, in keeping with survey outcomes launched this week by Dynasty Monetary Companions.
Inside this group, 54% of individuals between 35 and 44 exhibited this conduct, as did 42% of these youthful than 35. By comparability, 31% of survey respondents 65 to 74 waited for a milestone, usually liquidity occasions tied to inheritances or enterprise gross sales, earlier than in search of recommendation.
“These findings have a transparent message for monetary advisors,” Andrew Marsh, vice chairman of Dynasty Monetary Companions, stated in an announcement. “Folks search professional monetary recommendation to satisfy particular, and infrequently age-related wants. Advisors can use this data to craft companies that match their purchasers’ priorities.
The Dynasty Join Survey was carried out in partnership with Absolute Engagement between April 20 and Might 1 amongst 1,000 respondents who work with a monetary advisor and have a say in family monetary decision-making. Every respondent had a minimal of $500,000 in investable property.
The survey additionally discovered that 61% of these within the 35-to-44 age group who’ve switched advisors made the change as a result of they wanted an advisor with totally different or particular experience. Dynasty stated this reinforces the concept folks want to seek out advisors who’re properly suited to satisfy their particular wants.
