We are proud to share that our very own Raul Gastesi, partner and co-founder of Gastesi, Lopez & Mestre, was recently featured in Financial Planning’s article, Keeping the Kids: An Advisor’s Guide to Retaining Next-Gen Clients. His insights shed light on how advisors can successfully build and maintain relationships with heirs, ensuring a seamless transition of wealth and financial trust.

The Key to Building Trust with Heirs

Raul emphasized that the best approach to engaging the next generation is through parental facilitation.

“This ensures a smooth transition and reassures the children that the relationship is built on trust,” he explained. Encouraging open discussions and transparent communication between advisors, parents, and heirs fosters a strong foundation for long-term financial planning.

However, one of the biggest challenges in this process is overcoming initial resistance from heirs, especially when estate plans don’t align with their expectations. Raul advised that advisors should be confident but avoid being overbearing:

“It’s important to be self-confident but not overbearing — advisors should avoid speaking down to heirs or making them feel like the plan is being forced upon them. Instead, a collaborative approach that acknowledges their opinions and concerns fosters trust and engagement.”

A Strong Foundation for Long-Term Success

To retain next-gen clients, Raul highlighted the importance of fair and transparent fee structures, a seamless transition, and ongoing engagement. Advisors who position themselves as trusted confidants, respect heirs’ input, and simplify the process will increase the likelihood of long-term retention after the wealth transfer.