Client Satisfaction
The majority (81 percent) of the inheriting group who worked with an advisor said they were generally satisfied with the experience. Individuals with an inheritance of $500,000 - $999,999 were the most satisfied overall, while those who kept the same advisor were most satisfied with their individual professional.
Most inheritors (33 percent) who switched to an advisor upon receiving the inheritance said they were likely to seek that advisor’s services in the future. Twenty-two percent of inheriting individuals said they would seek that advisor’s help for planning for long-term care or establishing an estate plan (21 percent), according to the study.
The study was fielded between August and December 2017 via online survey. There were 706 respondents who were selected to represent the affluent population in the United States. They were required to have at least $100,000 in net worth (outside of the value of their primary residence). Participants had to have received an inheritance of at least $100,000 in the recent past.