If there’s one statistic that should grab the attention of financial advisors, it’s this: 40% of financial advisor clients would switch to an advisor who offers estate planning services.
In an industry built on trust, client retention, and long-term relationships, this is a wake-up call. For many clients, estate planning isn’t just a minor add-on—it’s a dealbreaker.
The Business Case for Offering Estate Planning Services
The data paints a clear picture: clients value estate planning so much that they’re willing to leave their current advisor to get it.
Among those who currently work with a financial advisor:
40% said estate planning is important enough to switch advisors.
39% said estate planning isn’t a big enough priority for them to change.
22% already receive estate planning services through their advisor.
For financial professionals, the key takeaway is simple: estate planning is becoming an expectation, not just an option.
Who’s Most Likely to Switch?
The likelihood of switching varies significantly across generational, income, and demographic lines.
Younger clients are the most willing to leave their advisor over estate planning.
Only 7% of the Silent Generation would switch.
A massive 63% of Gen Z would change advisors to gain estate planning services.
Millennials (54%) and Gen X (46%) also show high levels of willingness to switch.
This generational trend suggests that as wealth transfers to younger generations, financial advisors who do not integrate estate planning risk losing their next wave of clients.
High-Income Clients Expect More
Wealthier clients are even more likely to prioritize estate planning—and their financial advisor’s ability to provide it.
Among clients earning $500K-$999K, a staggering 82% said they would switch advisors for estate planning.
Even among those earning over $1M, 68% said they would switch.
These figures represent a 110% increase in willingness to switch compared to clients in lower income brackets.
For advisors, this means that failing to offer estate planning could cost them their highest-value clients.
Surprising Findings: Race, Gender & Geography
Some of the most surprising findings came from racial and gender-based trends:
Hispanic respondents were the most likely racial group to switch advisors (65%).
Non-white clients (57%) were significantly more likely than white clients (34%) to switch for estate planning.
Men (48%) were 45% more likely than women (33%) to consider switching.
Urban clients (51%) were the most likely to switch, compared to rural (36%) and suburban (35%) clients.
These findings highlight a major opportunity for financial advisors to expand their estate planning outreach to diverse and underserved communities.
What This Means for Financial Advisors
The financial industry is evolving, and estate planning is at the center of this shift. Advisors who fail to recognize how much clients value estate planning risk falling behind.
The message from clients is clear:
Estate planning is a priority.
Clients expect their financial advisor to help guide them through it.
If an advisor doesn’t offer estate planning services, many clients will find someone who does.
For financial professionals looking to strengthen client relationships, increase retention, and attract high-net-worth clients, estate planning isn’t just an optional service—it’s a competitive advantage.
These insights were unveiled in the Trust & Will 2025 Annual Financial Advisor Report. Click here to view the full report.
Trust & Will is an online service providing legal forms and information. We are not a law firm and we do not provide legal advice.
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