Christopher
Johnson:
Hello,
I’m
with
Gillian
Hepburn
at
Morningstar’s
Investment
Conference
in
London.
So,
Gillian,
my
first
question
to
you
is,
in
your
presentation
you
said
that
61%
of
inheritors
say
they
will
not
use
their
parents’
advisers.
So
how
can
advisers
keep
younger
clients?
Gillian
Hepburn:
It’s
a
great
starting
question,
isn’t
it?
I
think,
first
of
all,
it’s
just
simply
engaging
with
them.
It’s
letting
the
next
generation
of
your
existing
clients
know
that
you
exist,
that
I
am
the
person
that
manages
the
family
money
and
I’m
here
to
help.
And
I
do
see
a
lot
of
advisers
saying
I’m
not
going
to
deal
with
that
next
generation
because
I
don’t
have
a
proposition
and
I
won’t
make
any
profit
from
them.
This
is
not
about
profit.
This
is
about
retaining
the
wealth
that
you’ve
worked
really
hard
to
create
within
the
business
and
within
the
family.
So,
I
think
first
of
all,
the
first
step
is
just
to
let
them
know
who
you
are.
CJ:
Are
advisers
missing
out
on
the
opportunity
of
dealing
with
female
clients
that
are
inheriting
wealth
at
the
moment?
How
can
they
engage
this
demographic
of
people?
GH:
Yeah,
100%.
I
would
say
–
I
mean,
our
research
shows
us
that
only
34%
of
women
are
saying
that
they
will
stay
with
the
adviser,
the
family
adviser
after
the
death
of
their
partner
or
even
after
divorce.
So,
with
that
move
away,
we’re
seeing
only
5%,
interestingly,
of
advisers
saying
they’ve
got
a
proposition
to
retain
or
even
attract
these
female
clients.
So,
I
think
the
key
thing
to
start
with
is
about
understanding
these
women
and
why
are
they
moving.
Why
do
they
feel
disengaged
and
what
can
we
do
about
it?
And
actually,
the
research
showed
the
starting
point
was
about
just
simple
communication,
understanding
that
these
women
are
different,
they
think
differently
about
money
and
about
what
they
want
to
do
with
the
family
money.
So
again,
it’s
back
to
that
whole
engagement
piece
in
terms
of
not
disengaging
these
women,
engage
the
wider
family.
So,
what
was
really
interesting
is
that
often
it’s
the
next
generation
that
influence
that
widow
in
terms
of
not
remaining
with
the
family
adviser.
So,
I
think
it’s
an
interesting
dynamic
here,
isn’t
it?
There
is
a
challenge
for
many
advisers
if
they’re
not
doing
it
and
these
women
are
going
to
leave.
Equally,
there’s
a
huge
opportunity
for
advisers
to
hold
themselves
out
as
specialising
in
women
and
therefore
attracting
these
clients
that
are
looking
for
somebody
who
really
understands
them
and
wants
to
work
with
them.
CJ:
Thank
you,
Gillian.
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