The second part of our inheritance economy report further examines the increasing importance in the UK of intergenerational wealth transfers and the opportunity available to the financial services industry.
Both parts of research were commissioned by Kings Court Trust and produced by The Centre of Economics and Business Research (Cebr).
This is the second instalment of the inheritance economy research, which seeks to provide new insights into an area of growing importance to the UK economy - intergenerational wealth transfers.
The report uncovers evidence which shows the financial services community are not prepared to deal with the inheritance economy successfully. However, with the right approach, there is a fantastic opportunity for advisers.
With an ageing population and rising levels of wealth, the UK is set to see substantial growth in the number of inheritances and financial gifts taking place each year. It is estimated that over £5.5 trillion will pass between the generations within the next thirty years. This amount of inheritance is unprecedented and raises both opportunities and threats for the financial services industry.