- February 7, 2025
The Great Wealth Transfer 2025: Building Multigenerational Relationships
The theme of Integrated Financial Group’s 2025 Annual Advisor Retreat centered on a transformative trend shaping the future of the financial services industry: the Great Wealth Transfer. With trillions of dollars expected to change hands over the coming decades, this seismic shift represents both an opportunity and a challenge for independent financial advisors.
To thrive in this evolving landscape, advisors must focus on building stronger relationships with the children of their clients, ensuring the longevity of their clients’ wealth and the sustainability of their own practices.
Why the Great Wealth Transfer Matters
This is more than just a headline in financial planning news. It’s the largest movement of assets in history, as Baby Boomers pass down their wealth to Gen X and Millennials.
The Great Wealth Transfer places advisors in a challenging position, balancing short-term profits with long-term survival. With trillions of dollars transitioning between generations by 2048, the cost of inaction is too high.
While engaging younger heirs can initially seem unprofitable, as they often have less wealth and vastly different expectations for wealth management services–this belief can come back to bite you in the long run.
Where Is the Wealth Going?
According to a recent study by Cerulli, $105 trillion will be passed down to heirs by 2048, with another $18 trillion directed to charities. Baby Boomers and older generations will lead this transfer, accounting for 81% of the total wealth movement—$100 trillion. High-net-worth (HNW) and ultra-high-net-worth (UHNW) households, despite representing just 2% of all U.S. households, will drive over $62 trillion of these transfers.
But this shift isn’t just about large numbers. It’s about relationships—spousal relationships, family dynamics, and the generational transition of wealth.
The Role of Spousal Transfers
Before wealth reaches heirs or charities, much of it will first transfer horizontally, between spouses. A projected $54 trillion will move this way, with $40 trillion going to widowed women in the Baby Boomer and older generations. For wealth managers, this presents both a challenge and an opportunity: meeting the distinct financial needs of widowed women while maintaining the relationships that secure ongoing trust and engagement.
Gen X and Millennials: The Future of Wealth
While Millennials are poised to inherit the lion’s share of wealth over the next 25 years ($46 trillion), Gen X will dominate the next decade, inheriting $14 trillion, compared to Millennials’ $8 trillion. Together, these generations will receive $85 trillion in total, underscoring the urgency for firms to connect with them now.
Building Better Relationships with the Next Generation
One of the most effective ways for advisors to prepare for this transfer is to cultivate relationships with clients’ families. Engaging spouses and children through family meetings, proactive communication, and tailored financial strategies is no longer optional—it’s essential. The same Cerulli survey we referenced above found that 89% of high-net-worth firms cite family-focused services as a top growth strategy.
6 Ways to Engage the Next Generation
Here are actionable steps to build trust and engage with the next generation:
1. Start Early
Engage clients’ children by hosting family meetings and involving them in estate planning discussions. This builds trust and helps establish you as a resource for their financial futures.
2. Offer Proactive Financial Education
Provide younger heirs with free financial planning resources or sessions, particularly as they enter adulthood. This can establish trust and position you as their advisor of choice when they inherit wealth.
3. Adapt Communication and Services
Younger clients value technology-driven solutions and frequent updates. Offer digital tools, virtual meetings, and a streamlined client experience to meet their expectations.
4. Focus on Multigenerational Estate Planning
Facilitate family discussions and tailor estate plans to meet the needs of all generations. This ensures smooth transitions and reinforces your role in preserving family wealth.
5. Rethink
Facilitate Consider flexible fee structures, such as householding family assets to extend discounts, making it easier to serve heirs while maintaining profitability.
6. Leverage Technology
Upgrade platforms to provide on-demand financial insights and seamless digital experiences. Financial tools like LPL and eMoney can help solo advisors compete with larger firms by delivering modern, user-friendly services.
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How Integrated Financial Group Can Help
Navigating the complexities of multigenerational wealth planning requires collaboration, innovation, and a robust support system—all of which Integrated Financial Group provides. Through our unique Brain Trust culture, we empower advisors to share best practices, learn from peers, and stay ahead of industry trends. Our Annual Retreat and Mastermind Groups foster an environment where advisors can refine their approach to multigenerational planning and grow their practices.
By offloading day-to-day operational tasks to IFG’s advisor success teams, you can focus on what truly matters: building lasting relationships with your clients and their families. Whether it’s marketing support, virtual administrative services, or trading assistance, we provide the resources you need to thrive during this transformative period.
Seizing the Opportunity
The Great Wealth Transfer is not just a shift in assets; it’s a shift in opportunity. Independent financial advisors who embrace multigenerational wealth planning, adapt to the preferences of younger clients, and leverage the support of a collaborative network like IFG will be best positioned to thrive. By building relationships that span generations, you can ensure the enduring success of your clients’ financial legacies and your own business.
