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More than $120 trillion is set to change hands over the next 25 years, yet most heirs won’t stick with their benefactors’ wealth advisors, Cerulli Associates reports. Only 27% of future beneficiaries plan to keep the advisor, and among those who already inherited, just 20% did. Many switch because they already have an advisor or lacked a relationship with the legacy one. Benefactors are largely ambivalent. Cerulli also finds estate conversations often happen too late—prompting advisors to push clients to involve heirs early to ease transitions.

Prepared by Christopher Adams and reviewed by editorial team.