Excessive-net-worth buyers aged 44 and youthful have a tendency to attend for a selected life occasion earlier than searching for monetary recommendation, together with getting married, shopping for houses and beginning households, in response to survey outcomes launched this week by Dynasty Monetary Companions.
Inside this group, 54% of members between 35 and 44 exhibited this conduct, as did 42% of these youthful than 35. By comparability, 31% of survey respondents 65 to 74 waited for a milestone, usually liquidity occasions tied to inheritances or enterprise gross sales, earlier than searching for recommendation.
“These findings have a transparent message for monetary advisors,” Andrew Marsh, vice chairman of Dynasty Monetary Companions, mentioned in an announcement. “Individuals search professional monetary recommendation to meet particular, and infrequently age-related wants. Advisors can use this data to craft companies that match their shoppers’ priorities.
The Dynasty Join Survey was carried out in partnership with Absolute Engagement between April 20 and Could 1 amongst 1,000 respondents who work with a monetary advisor and have a say in family monetary decision-making. Every respondent had a minimal of $500,000 in investable property.
The survey additionally discovered that 61% of these within the 35-to-44 age group who’ve switched advisors made the change as a result of they wanted an advisor with totally different or particular experience. Dynasty mentioned this reinforces the concept that folks want to search out advisors who’re properly suited to fulfill their particular wants.