A growing share of Americans now expect financial advisers to handle estate planning, and many would consider switching firms if they do not, according to Trust & Will‘s 2026 Financial Advisor Report.
The survey of 1,500 U.S. adults found that 61% believe estate planning should be part of an adviser’s services, while 68% of clients with advisers say they would consider moving to one that offers it. Among advised Gen Z and millennial clients, roughly 80% say they would consider switching.
The findings, which are based on an online survey conducted from June 4-10 by Talker Research for Trust & Will, underscore a shift in expectations for financial professionals. Younger investors increasingly seek bundled services that include both wealth management and estate planning support.
Growing urgency and importance
The survey is the third installment in Trust & Will’s annual Financial Advisor Report series and compares results to 2025 and 2024 data. “Estate planning has moved from a peripheral offering to a core expectation,” the report states.
Overall, 31.2% of Americans report having a financial adviser, up from 26.9% in 2025. Growth is concentrated among younger adults, reversing a traditional age pattern.
Adviser use among Gen Z rose to 41.7%, up from 28.2% a year earlier. Millennial usage increased from 28.5% to 38.5%. By contrast, baby boomer participation fell to 24.3% from 31.1%.
The report notes that younger clients are now more likely to use advisers and more likely to expect estate planning services as part of that relationship.
Among clients with advisers, 39.7% say they are “very likely” to consider switching to an advisor offering estate planning, and 28% are “somewhat likely.” That puts total switching intent at 67.7%, or more than two-thirds of advised respondents.
The risk is most pronounced among younger clients as 80% of both Gen Z and millennial clients with advisers say they would consider switching, compared with 25.9% of boomers.
More than half of Americans (54%) say their financial anxiety has increased over the past year, and roughly half (49.7%) say economic conditions have made them more motivated to complete estate planning.
Rising costs of living (49.9%) and inflation (38.7%) are the most commonly cited concerns, followed by health care costs, retirement insecurity and job instability.
Nearly half of respondents (47.8%) also say they feel unprepared for the “Great Wealth Transfer,” with an estimated $84 trillion to $124 trillion expected to move between generations over the coming decades.
The survey finds Americans increasingly view financial advisers, not just attorneys, as key estate planning providers. About 27% say they would prefer to create or update an estate plan with a financial adviser, compared with 24% who prefer an attorney and 19% who want both involved.
A majority also expect advisers to play an active oversight role. Roughly 68% say advisers should be responsible for flagging outdated or incomplete estate plans, including 44.7% who say it should be done proactively.
Despite rising expectations, 42% of Americans report having no estate planning documents, and 10.4% are unsure whether they have any. A will remains the most common document (27%), followed by trusts (20.6%) and powers of attorney documents.
The survey also finds persistent gaps by gender and generation. Men are more likely than women to have advisers and estate planning documents, while Gen X reports the highest rate of having no documents at all.
Technology in estate planning
The report also highlights growing openness to technology. About 40.7% of Americans say they would be comfortable using an artificial intelligence tool to help create or update estate planning documents, although most prefer some level of human oversight.
Younger respondents are far more receptive: 57.1% of Gen Z and 52.3% of millennials express comfort with AI-assisted planning, compared with 16.8% of baby boomers.
If a financial adviser proactively offered estate planning help, 63.9% of Americans say they would likely accept.
Advisors are also having an impact when they raise the topic. More than half (56%) of advised clients say these conversations increased their sense of urgency around creating or updating a plan.
This article was generated using HousingWire Automation and reviewed by a HousingWire editor before publication.
