The number of widows and female divorcees is on the rise, which means financial advisors need to be better prepared to deal with the problems facing these clients who are in the throes of major life transitions.

 According to a new survey by Spectrem Group, 7% of millionaire households (with $1 million to $5 million in net worth) and 9% of ultra-high-net-worth households (with $5 million to $25 million in net worth) are divorced. Moreover, approximately 7% of millionaires and 12% of ultra-high net worth women are widows.

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