According to Capgemini's 2024 World Wealth Report, a staggering 81 percent of inheritors say they plan to part ways with their parents' financial advisors within a year or two of receiving their inheritance.

Financial Advisor News reports that the study surveyed over 6,400 high-net-worth individuals, including more than 5,400 next-generation investors across the Americas, Europe, the Asia-Pacific region, and the Middle East. The findings underscore a growing disconnect between traditional advisory models and the expectations of younger wealth holders.

In addition to seeking new advisors, younger investors want different financial products and services. The report found that 63 percent of millennials and 49 percent of Gen Z respondents prioritize access to alternative investments and niche products like cryptocurrency. Many also want greater exposure to emerging offshore wealth hubs, including Singapore, Hong Kong, the United Arab Emirates, and Saudi Arabia.

Financial Advisor News also reports that next-gen clients are looking for a broader suite of personalized services, ranging from luxury travel arrangements to medical care and cyber-protection.

Financial Advisor Transitions consults advisors nationwide to explore employment transition options and to preserve and protect their practice in any transition that they make.