I always have a slight chuckle whenever I see IG (intergenerational advice) on an education schedule for an adviser planning day. The reason is because of the data used to back up the "why", the method that is put forth as the solution and the marketing call to action that is described as the resource to use.
The reality is that providing family advice requires the development of capabilities, new systems and processes, different CVPs and all up is a 6 month plus journey.
The data that is usually pointed to contains a call to action to address the dire situation of grandparents being the sole carer of children aged below 15 and this creates a threat to retirement incomes and so is a necessary conversation to have with your boomer clients.
The reality here is that those numbers are 17,000 families. There are give or take 15,000 advisers in Australia : so you all have one each to target. That's some niche play.
The method that is put forth as the holy grail is the family tree and by utilising one you will capture the essence of a families total situation and position as the trusted family adviser.
The reality is that family trees do not work if positioned without context supported by capabilities that invite the positioning of a family tree into the conversation.
Finally no marketing flyer will encourage families to share with their loved ones your very kind "gift" of financial advice unless there is appropriate positioning and a defined, meaning and relevant "why".
IG advice works but it works by design. Businesses that have designed the process position as the central hub of a families financial world, but also as the intermediary between the inner workings of the "tribe" and it's external affairs.
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