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Leveraging technology to capitalize on the transfer of wealth to generations X & Y

By Pierre Bouquieaux 17 Feb 2014


Every year, $1 trillion in wealth is passed down to Generations X&Y. Yet, the intergenerational client retention rate of wealth management firms is sometimes as low as 5%, and surveys show that 90% of beneficiaries have little interest in staying with their forbearers' wealth managers.

Serving multiple generations today is not as straightforward as one might think, because the expectations and interactional preferences of older and younger clients sometimes diverge and sometimes converge. In this disruptive context, wealth management institutions have not leveraged technology as much as they could (and should) have to remain competitive.

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