Advisers are increasingly focusing on intergenerational wealth planning following growing demand from clients, new research from Fidelity Adviser Solutions has found.
According to the firm’s latest IFA DNA study, more than half of advisers (52%) are seeing increased demand from clients for help with managing and transferring wealth across generations.
Nearly one in 10 advisers (9%) say demand has increased significantly, up from just 1% of advisers who said the same in 2023.
The firm said the growing momentum reflects more frequent conversations among families about wealth, legacy and long-term financial outcomes.
Two thirds (66%) of advisers say that advising on wealth transfers now represents an important opportunity for their business.
As this area of advice grows, firms are adopting strategies to meet client demand. Nearly one in six (14%) have a defined intergenerational wealth strategy in place, with a further 46% actively considering how to formalise their approach.
The report also highlights a growing move towards more family-focused advice. Seven in 10 (70%) advisers say they make a point of meeting with a client’s spouse, while 56% believe it is important to meet with clients’ immediate family or dependents.
Paul Richards, head of adviser distribution at Fidelity Adviser Solutions, said: “Our latest IFA DNA study shows just how quickly intergenerational wealth planning has moved up the agenda.
“Intergenerational planning is becoming a natural extension of holistic advice. By engaging spouses and wider family member members, advisers can help clients put clearer plans in place, align goals across generations and build stronger, longer-lasting relationships with families.
“As the regulatory and planning landscape continues to evolve, advisers who embed intergenerational thinking into their client conversations will be well placed to support families through increasingly complex wealth decisions.”
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