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Are you thinking about your heirs?

4th December, 2018

Research from provider Zurich has suggested that not enough is being done to help protect those that are set to inherit wealth from their parents.

When clients are of retirement age, an adviser may introduce themselves to their children, to make sure they also have suitable protection in place. But Zurich is suggesting that this is simply not happening enough.

Zurich found that less than one in 14 clients of retirement age said their adviser had introduced themselves to their offspring. Clients that would quickly recommend their adviser to their children were especially surprised that their adviser had not done more to contact them about protecting their inheritance.

The number of clients that had introduced their children to their adviser doubled the number of advisers that had made the first step themselves. Zurich has said that advisers are missing out on building their client base, and encourage them to bring offspring into the client conversation early on.

Looking at the level of wealth at stake the situation becomes even clearer. It is estimated that as much as £1.2trn could be passed down from baby-boomers over the next 30 years. It’s difficult for people to think about a loved one passing away, but involving the whole family in the conversation is essential in demonstrating the value of protection early.

If you would like to find out more about your protection options and how you can help cover yourself and your children against worst case scenarios, contact us today on 0800 024 8685 to arrange a meeting.

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