Connecting with next generation of investors

As wealth transfers from baby boomers to heirs over the next two decades, advisors may want to reach out to the next generation of investors, according to industry research. More than $84 trillion is projected to transfer from boomers, with $72.6 trillion going to heirs and the rest to charity, through 2045. Gen X households are expected to inherit $30 trillion in wealth over the next 25 years. Millennials are projected to inherit $28 trillion starting in another decade. According to research, 70% of children terminate the relationship with their advisor once the primary wealth holder passes away.