As the commercial director at Benchmark, Gillian Hepburn believes that advisors must embrace technology in order to maintain relationships with their clients’ families. She feels that many advisers are not fully prepared for the significant shift in how people want to interact with their finances.
Ben Barratt, the managing director at First Sentinel Wealth, shares Hepburn’s sentiment. He foresees a shift in how people want to engage with their finances and believes that advisers need to be proactive in embracing technology to adapt to these changing needs and expectations.
Both Barratt and Hepburn emphasize the importance of adopting technology in facilitating more transparent discussions about finances between families. They believe that by engaging with younger generations who are not prepared to work with clients who have less than £50,000 to invest, advisors can avoid losing assets during the great wealth transfer.
In conclusion, both Barratt and Hepburn stress the need for families to have more transparent discussions about finances. They believe that adopting technology will be vital in facilitating this wealth transfer between generations.