Heirs Rarely Keep Benefactors’ Wealth Advisors, Survey Finds | JQJO

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.