The Lives and Advisors Of New Millionaires

In the next decade, as baby boomers stand to inherit trillions of dollars from their parents, more new millionaires might be born through inheritance than investing. These new inheritors likely will dump advisors who had served their parents, or even them before they got rich. Instead, they'll seek advisors with demonstrable experience counseling the wealthy. Such are the predictions based on a survey

In the next decade, as baby boomers stand to inherit trillions of dollars from their parents, more new millionaires might be born through inheritance than investing.

These new inheritors likely will dump advisors who had served their parents, or even them before they got rich. Instead, they'll seek advisors with demonstrable experience counseling the wealthy.

Such are the predictions based on a survey Prince & Associates conducted of 87 newly minted millionaires. Forty-two

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