The
Magical Money Tree
Reference our last blog on 06.06.2019, herewith some
stats to put some flesh on the bones.
As
we explained, with
the ‘The Great Wealth Transfer’ over the next 30 years, an
estimated £5.5 trillion (that’s
12 zeros after the £5.5) is due to be passed between generations
in the UK.
Research has confirmed that the majority of those
inheriting aged 30 to 60 do not have an Independent Financial Adviser, meaning
that they are unlikely to make the most of the tax concessions and investment
expertise available to them. This is true across the wealth spectrum, as the
table below confirms.
|
What do you believe is the total value
of the inheritance that you yourself will receive from your parents?
|
Yes, I have a
financial adviser
|
No, I don’t have
a financial adviser
|
|
Less
than £100,000
|
13%
|
87%
|
|
£100,000
- £250,000
|
17%
|
83%
|
|
More
than £250,000
|
33%
|
67%
|
The implication is clear. Whilst undoubtedly, there
will be some instances where beneficiaries take advice, there will be many more
where that’s not the case.
Tune in to the next instalment to learn more. In the
meantime, we can help. Please visit our website www.pipllp.co.uk
and please feel free to call us on 0113 202 9529.