For years now, forecasters have told the financial industry of the trifecta of events that are impacting financially successful families and the Advisors who serve them. The first event is that over the next twenty-five years, seventy trillion dollars will be transferred from the Boomer generation to Generation X and Millennial households; the second event is that families don’t know how to successfully transfer wealth to their rising generations (aka, the shirtsleeves-to-shirtsleeves in three generations proverb); and the third event is that when the wealth is transferred to the next generation, they will leave their parents’ Advisors in droves. However, it is not enough to know about these events; an Advisor must act on this knowledge for the benefit of their client-families and their businesses.

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