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Huge wealth transfer sparks ideas as advisors rethink their businesses

Bill Cass

Bill Cass, 04/19/17

With limited time to meet, it can be challenging for advisors to establish relationships with family members and future heirs, especially when meetings are often focused on an individual’s long-term goals.

Still, a huge amount of wealth is expected to be on the move. About $30 trillion in assets is projected to transfer from boomers to the next generation over the next 30 years. Yet some recent industry surveys found that most advisors — 70% — do not meet with an investor’s children in a given year.

As a result, when assets move to the next generation, heirs may choose to work with a different advisor.

In looking at the opportunities being created by this wealth transfer, Chris Hennessey discusses how advisors may position themselves to meet the next generation of investors.

Some ideas for advisors include:

  • Position your practice to serve the entire family
  • Craft a new value proposition and offer a broader range of services
  • Connect with third-party experts to build a more expansive network


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About this blog

Financial-planning experts Bill Cass and Chris Hennessey weigh in each week with a range of insights about complex financial planning needs.

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