In a recent article in the Wealth Strategies Journal, The Outlook for Estate Planning Practitioners, attorney William A. Conway writes that the estate planning industry is poised for growth.
Conway notes that in a recent survey of 831 estate planning attorneys, 46% experienced an increase in business during 2010. Likewise, the survey states that 49% of estate planning attorneys surveyed expect business to increase 20% or more over the next five years. Both of these figures are more optimistic than those in the previous year's survey.
Conway notes that most of those surveyed believe that the aging baby boomer population is the primary reason for the anticipated growth. In anticipation of this growth, most of those surveyed plan to strengthen their referral networks.
Posted by Kyle Petit, Associate Editor, Wealth Strategies Journal.
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