Advisors understand the importance of discussing non-financial topics, such as family unity, with their clients. Advisors indicate that poor communication in general and poor communication about wealth transfer, along with mistrust, most often contribute to the disruption of family dynamics.

Over two-thirds of respondents indicate they have taken specific action to help families prepare for the transfer of wealth. Helping to develop a family decision-making process and conducting family financial education sessions are most common. Half of respondents have a standard process they use to transfer funds.

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