Tag: children

To win business with clients’ children, advisors really have to try

It’s a prospect base advisors know all too well – clients’ children – and one whose business is not easily earned, so much so that many professionals don’t really try.

Less than one in five affluent investors say they work with their parents’ financial advisors, according to data published Tuesday by Cerulli Associates. Often, there’s nothing an advisor can do that will persuade a client’s child to hire them – but there are certain types of investors who are much more open to that than others.

While just 5% of those who work with their parents’ advisors identify as self-directed investors, nearly 75% of those who stick with their parents’ advisors say they are either reliant on advice or want more of it, according to Cerulli, whose survey between January and September included more than 650 responses from inheritors.

Further, the proportion of those who hire their parents’ advisors skews younger, with 41% of those under 30 who work with an advisor opting for it, compared with 31% among those 30 to 39, and 34% among those 40 to 49, Cerulli found.

“The younger gens that are the stayers … They are engaged. They want that help. And if their parents have an advisor, it can be seen as the logical first step for them,” said John McKenna, research analyst at Cerulli.

However, younger clients also tend to have different financial needs and preferences than their parents, which means that if the advisor can’t cater to them, they should find someone at their firm who can, McKenna said.

“If the matchup isn’t there, they’re going to start shifting their business elsewhere,” he said.


Advisors have to be OK taking time out of their day to work with clients’ adult children who may have less than $10,000 in an

South Africa hears historic class action for lead poisoning launched by Zambian  children and women

The South Gauteng High Court in Johannesburg will continue hearing a ground-breaking case brought by Zambian children and women against the mining giant Anglo American, seeking compensation for lead poisoning, human rights groups announced today.

At the end of the 12-day hearing that opened on 20 January, the Court will decide whether to certify this unprecedented class action demanding that Anglo American South Africa remedy the adverse health impacts of its mining activities in the District of Kabwe, Zambia. If the case proceeds, it will offer a unique opportunity for residents of Kabwe to have a day in court and secure judicial remedies for the alleged human rights abuses associated with Anglo American’s business operations.

Residents of Kabwe have shown incredible resilience in pursuing legal action against a multinational mining giant

Candy Ofime, Researcher and Advisor – Business and Human Rights at Amnesty International

Amnesty International and the Southern Africa Litigation Centre (SALC) were admitted as joint amici curiae (“friends of the court”) in August 2022 to brief the Court on international business and human rights standards and South African constitutional law relevant for the certification of the class action. The human rights groups stress that South Africa’s duty to regulate the conduct of its companies extends beyond its territorial borders and that Anglo American’s responsibility to respect human rights should inform the Court’s decision to certify this class action.

          “Residents of Kabwe have shown incredible resilience in pursuing legal action against a multinational mining giant and should be afforded the opportunity to make their case before South African courts. Businesses have a responsibility to remediate the adverse human rights impacts of their activities. Remediation starts with a fair access to courts” said Candy Ofime, Researcher and Adviser on Business and Human Rights at Amnesty International.

This lawsuit