Clients Increasingly Expect Estate Planning from Financial Advisors
Estate planning has evolved from a value-added offering to a core expectation for financial advisors, with a growing number of investors saying they would change advisors to gain access to the service, according to Trust & Will’s 2026 Financial Advisor Report.
The national survey of 1,500 U.S. adults found that 61% of Americans believe financial advisors should provide estate planning as part of their services. Among clients who already work with an advisor, 68% said they would consider switching to another advisor that offers estate planning. That figure climbs to nearly 80% among Gen Z and Millennial investors.
The findings come as younger generations increasingly embrace financial advice. Gen Z advisor adoption rose to 42% in 2026 from 28% a year earlier, while Millennial adoption increased to 39% from 29%. In contrast, Baby Boomer advisor usage declined to 24% from 31%, reflecting a shift in the industry’s fastest-growing client base.
The report also found that economic uncertainty is accelerating estate planning activity. More than half of respondents (54%) reported greater financial anxiety than a year ago, while 50% said rising living costs and market volatility have made them more motivated to establish or update an estate plan.
“For years, the challenge in estate planning was convincing people it mattered. That is no longer the problem,” said Cody Barbo, co-founder and CEO of Trust & Will. “Americans know they need a plan, and this year they are telling us they want their financial advisor to help them build it.”
The research suggests advisors are becoming the preferred entry point for estate planning. Twenty-seven percent of respondents said they would rather create an estate plan with a financial advisor than an estate planning attorney (24%), while 19% preferred involving both professionals.
Clients are also seeking greater accountability. Sixty-eight percent believe advisors have a responsibility to identify outdated or incomplete estate plans, and 45% said advisors should proactively raise the issue without prompting.
The survey also highlighted ongoing preparation gaps surrounding the estimated $84 trillion to $124 trillion Great Wealth Transfer, with 48% of Americans saying they feel unprepared. Interest in artificial intelligence continues to grow as well, with 41% of respondents comfortable using AI to help create estate planning documents, although most still prefer human guidance for more complex planning needs.
