The demand from clients for estate planning services continues to grow – and clearly presents an opportunity for new client acquisition and for increasing services to existing clients.
Results from a recent US survey by online estate planning specialist Trust & Will, dramatically illustrate the high level of importance that clients attach to estate planning services;
- The findings revealed both opportunity and threat: 40% of clients would switch to another adviser who offered Estate Planning services, if theirs didn’t – with this figure jumping to over 80% for higher income earners.
- 70% of respondents believed financial advisers should offer estate planning services.
“For advisors looking to future-proof their practice, deepen client relationships, and expand their value, estate planning is a clear path forward” the report concludes.
This situation is reflected in the Australian market. We know from our own databases and research* that 55% of Australian advice clients are aged 60+, with 48% already retired. And yet, Australian clients are not as prepared as they should be;
- Less than one in two Australian advice firms offer an estate planning service,
- One in three advice clients don’t have a current will.
- Nearly half of advised clients worry that the assets their children will inherit may be “lost” if their child divorces or separates from a spouse/partner.
The message is clear – advisers who don’t offer an estate planning solution, risk losing clients to competitors who do.
For your consideration,
Terry Bell, Business Health Pty Ltd.
*Business Health Data Warehouse as at March 2026, including: Estate Planner database and CATScan client survey data base.