She’s the boss: Keeping assets means keeping the power of the family matriarch fully in focus

I am curious, where does the quote “Upward of 70% of widows change financial advisors within a few months to a year after their spouse dies. Why? Once again, because the relationship does not exist.” actually come from? I continue to hear this quoted but the advisors I speak too say this is not the case. While they do lose some clients, men and women, it is not as large as this makes it out to be. Can you state where this statistic is coming from? Thanks!

Tiger,

I think you are right to be skeptical about that. It may be the advisor equivalent of urban myth. Still, I’m
guessing that there is truth to it based on one small sample. I know that when my dad died, my mother moved her account — albeit two years later.

Brooke