Here's one uncomfortable stat for financial advisors: 90% of assets transferred to the next generation don't stay with the existing advisor.
That loss of potential wealth is huge, especially considering that baby boomers in the United States will be transferring their wealth to Gen X, Gen Y and millennials. Just how vast is that baby boom generation? In the year 2000, approximately 2.5 million Americans turned 65. In 2013, more than 3.5 million Americans will pass that age.
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