What percentage of wealthy families lose their wealth by the second generation? 70%. And 90% lose their wealth by the third generation. Today I addressed wealth managers at the Owen James Conference speaking about the Great Wealth Transfer (which in the UK is estimated to be £1.2 trillion) the shift of money and assets from Baby boomer/Silents to their offspring – predominantly Gen X and Millennials. How can the industry engage with the next generation of clients? How do they ensure that they are understanding and helping families as these difficult decisions are made? This sector will need to adapt in order to survive what will be the biggest transfer of assets and money in history.