Financial realities are changing for high-net-worth clients, as more-and-more baby boomers must care for adult family members, and millennials weigh their investments and values alongside each other, shows a new study by U.S. Trust.
About 60% of high-net-worth clients said that they provided substantial financial support to adult family members, including siblings, parents and children. Meanwhile, only 3% had financial plans that take financial backing for these adults into account.
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