A new survey from Trust & Will indicates that estate planning has shifted from a niche offering to a core expectation among advisory clients. The 2026 Financial Advisor Report found that 68% of advised clients would consider moving to another financial advisor who provides estate planning services. Among Generation Z and Millennial clients, that figure rises to roughly eight in ten, underscoring a generational shift in demand.
The survey, which polled a broad cross-section of Americans, also revealed that 61% believe financial advisors should include estate planning in their service offerings. Only 17.5% disagreed. Additionally, nearly 68% of respondents think advisors have a responsibility to flag outdated or incomplete estate plans, with 45% expecting advisors to do so proactively, without a client request.
Advisor adoption rates are climbing, particularly among younger cohorts. Overall, 31.2% of Americans now work with a financial advisor, up from 26.9% the prior year. Gen Z usage surged from 28.2% to 41.7%, while Millennial usage rose from 28.5% to 38.5%. In contrast, Baby Boomer adoption declined from 31.1% to 24.3%. These trends suggest that younger generations are not only seeking advisors more frequently but also placing greater importance on comprehensive planning, including estate services.
Economic uncertainty appears to be reinforcing these expectations. More than half of respondents (54%) reported increased financial anxiety over the past year, and roughly half said current economic conditions have motivated them to organize their estate plans. This aligns with findings from the AmeriLife Survey, which noted that only 47% of peak-earning Americans feel on track for retirement, highlighting a broader need for holistic financial guidance.
The report also found that Americans are increasingly turning to advisors rather than attorneys for estate planning. About 27% said they would prefer to create or update an estate plan with a financial advisor, compared to 24% who would choose an estate planning attorney. Another 19% said they would prefer both professionals to be involved. This shift presents an opportunity for advisors to expand their services and deepen client relationships.
Despite heightened interest, many Americans remain unprepared for the coming intergenerational transfer of wealth. Nearly 48% of respondents said they do not feel prepared for the Great Wealth Transfer, which is expected to move trillions of dollars from older generations to younger heirs over the coming decades. This echoes findings from the AlTi Survey, which found that nearly half of family offices have formalized their wealth purpose, suggesting that structured planning is becoming more critical.
For advisors, the message is clear: estate planning is no longer optional. Firms that fail to offer these services risk losing clients to competitors who do. As younger investors accumulate wealth and seek comprehensive advice, integrating estate planning into the core offering could become a key differentiator in a crowded market.
