Transferring Wealth to the next generation

Intergenerational wealth planning is one of the most popular topics in financial planning today. But what is it? In simple terms, intergenerational wealth planning is about how families use their wealth to support each other during their lifetimes.

Studies predict the ‘baby-boomer wealth transfer’ to be the largest in history. According to a wealth transfer report by the Royal Bank of Canada, when this group passes on their assets to younger family members, they can be expected to leave $4tn of wealth to millennials within the UK and North America alone. This ‘inheritance boom’ will position millennials who have baby boomers in their families to receive record sums of inheritance.

It goes without question how important it is for us to have peace of mind when it comes to knowing our wealth will be passed on to our chosen beneficiaries, whether family, friends or other entities, such a charity organisations. This is why at Temple Row we believe in rapport; defined as “a close and harmonious relationship in which the people or groups concerned understand each other’s feelings or ideas and communicate well”. Creating a trusted client-adviser relationship is key to our engagement process and includes all the family members into the financial planning.

Head to the stories area on our website to read some of our client’s testimonies about their relationship with Bart and the team after years of working together.

We understand this is a really difficult time for everyone and taking care of your finances, whether business or personal, should never be an additional burden. 

Your Temple Row team are always looking to help people who are experiencing changes in their financial situation, if it’s securing their future or that of their family, ensuring their legacy or overcoming life’s challenges.

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