Passing down wealth is the top priority for UK adults when it comes to legacy planning, research from Canada Life finds. The research found nearly half of UK adults (46%) believe providing financial security for family members is very important.
By recognising the role that families play in long-term thinking, there is a clear opportunity for advisers to leverage the emotional connections and psychology that sits behind this decision-making, writes Lara Bealing
The concept of ‘long-term’ varies widely among different age groups, according to research from Canada Life, which explores behavioural biases and the psychology of planning.