When meeting with prospects and clients in recent years, you’velikely seen something that’s hard to miss: traditional families —heterosexual married couples with children — are a distinctminority.

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You wouldn’t be alone in taking note. New industry statsvalidate the observation.

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According to a UBS Investor Watch, “Beyond the Picket Fence:Financial Challenges of the Modern American Family,” suchtraditional families make up just over a third (35%) of allhouseholds.

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Related: What insurance advisors should know about 80% ofAmerican families

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Now almost as numerous are so-called “modern families.” Peggedat 34% of all households by UBS, the grouping includes same-sexcouples and blended families with children from a prior marriage.Add to this contemporary mix multigenerational families (agingparents or adult children living at home) and older, first-timeparents.

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A third-tier (31%) of the non-traditional type includeshouseholds without children: heterosexual couples and singles.

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What does this all mean for you as an advisor? If your clients’views dovetail with the perceptions that such modern families haveabout advisors, then you need to up your game.

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More than 7 in 10 (71%) of investors polled by UBS believe thatfinancial guidance and solutions are tailored to traditionalfamilies. Support system on which modern families depend to achievetheir financial aims — Social Security, health care and retirementbenefits — have not caught up with their needs.

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Like having more money in the till, more than 4 in 10 of parentsin blended families say they’ve underestimated the cost of raisingchildren from multiple marriages. Many of these parents also neveranticipated the emotional toll child-rearing would have on theirlives.

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“Two-thirds of parents with children from former marriages feelfrustrated that they cannot raise their spouse’s children the sameway they raise their own,” the survey notes. “Sixty-three percentsay their spouse’s children don’t accept them.”

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Their frustrations don’t end there. When asked how complicatedtheir lives are on the basis of four criteria — their livesoverall, finances, retirement planning and filing taxes — solidmajorities of parents in blended families describe each of the fouras at least “somewhat complicated.”

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Related: Are you covered? A look at insurance need over yourlifetime

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And as the stats below show, the percentages of respondents whodescribe each of the criteria as at least “somewhat complicated” ishigher among blended families with children at home than amongtheir traditional counterparts.

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My life overall: 55% (blended families) vs. 45% (traditionalfamilies)

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Finances: 55% vs. 44%

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Retirement planning: 64% vs. 54%

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Filing taxes 53% vs. 46%

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Financial issues extend to other domains for families living offthe beaten path. To learn more, see the charts beginning on thenext page for additional highlights from the UBS survey.

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As this chart shows, higher percentages of blended families withchildren than traditional families are dealing withknotty inheritance planning issues. Most glaringly, two thirdsof blended families (67%) are uncertain how to pass on theirwealth.

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inheritance chart

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Not surprisingly, blended families who plan for their future aremore confident about their ability to achieve certain financialgoals. Topping the list: funding college education for theirchildren and grandchildren.

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The landmark Supreme Court ruling this year legalizing marriagefor same-sex couples in all 50 states avails the LGBT community ofthe same protections and privileges under Federal law as enjoyed byheterosexual couples. But the ruling has raised within the LGBTcommunity a host of questions — from income taxes to wealthtransfer. As this chart show, most same-sex couples want advicecustomized to their financial situation.

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As the pie charts below reveals, significant percentages ofsame-sex partners believe their parents don’t accept their sexualorientation. And many feel that their sexual orientation couldaffect their inheritance.

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inheritance

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For multigenerational families, jugging financial priorities isan ever-present challenge. More aging parents are moving back inwith their adult children for support; and more adult childrenunable to support themselves are living at home. The added expenseof caring for additional family members, as this charts, iscomplicating retirement planning for those involved.

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adult

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Related: Traditional homeowners coverage may not fitnon-traditional households

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