According to a report from Cerulli, there will be $84.4 trillion of wealth transferred through 2045. This transfer from the Baby Boomer generation to Millennials and Generation Z has been dubbed the “The Great Wealth Transfer.”

As transfers lead to changes in both family dynamics and engagement preferences, advisors that can remain on the cutting edge of complex planning and wealth structuring tactics will be invaluable to clients as taxation becomes a more pressing worry. According to the research, grantor trusts (77%) are far and away the most common way to increase the tax-efficiency of wealth transfer events among HNW practices, followed by spousal lifetime access trusts (54%) and strategic gifting (46%). “As taxes become an increasingly pressing regulatory issue among legislators, wealth managers will need to keep a pulse on the latest developments at the state and federal levels,” says Chayce Horton, analyst at Cerulli.

Are you proactively having wealth transfer conversations with your clients? Or will you wait until another advisor brings it up?

We think it is easier to be the first one to share these ides, not the second.

How many of your clients have money they will never be able to spend in their lifetime?

Have you asked them what they would like to see happen to it when they are gone?

What if you could offer these clients a way to transfer their wealth to their kids and or grandkids completely free of tax?

What if you could offer leverage on their money from day one, free of market risk?

Do you think these people would want to hear this story?

Of course they do!