IN FOCUS: Estate Planning

Trillion dollars up for grabs

Jun 08, 2015
The greatest wealth transfer in human history is underway, but many advisors are missing out.

Soon there will be a handover of about $1.3 trillion in Canada and $12 trillion south of the border to baby boomers by those born in the 20s and 30s. Those post-war babies are also readying to pass on portions of their wealth to their children.

But advisors are missing the opportunity to really cash in on this business. Currently only 30 per cent of Canadians have an estate plan to facilitate the transfer of that wealth. (Download our fact sheet for some strategies to capture this lucrative market.)

Many consumers are put off by the preconception that this product is solely the domain of the ultra-wealthy.

But should advisors be able to turn consumers’ mindsets around there is an even bigger opportunity to cash in.

Over the next 30-40 years, boomers are expected to transfer some $30 trillion in assets to their heirs in the U.S.

Download our fact sheet for some strategies to capture this lucrative market.
 

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