New research suggests Australian financial advisers have been targeting higher value clients aged between 50 and 65 but are fearful of not retaining the client’s assets when they transfer to wives and heirs.

The research suggests advisers would be wise to including heirs in financial planning conversations.

The research commissioned by Natixis Investment Management and undertaken by CoreData survey 2,700 financial professionals across 20 countries and found that 40% of Australian advisers were worried about how generational wealth transfers would impact their business.

It said that Australian advisers report retaining assets 71% of the time when a spouse inherits, and only 38% of the time when the children inherit.