Some Old Thoughts About a New Problem

The coming wealth transfer has not created a new problem for advisors; it has revealed how long many have delayed building real relationships with clients’ children and heirs. As Baby Boomers enter their later years and Gen X moves into peak inheritance age, the future value of advisory firms now rests squarely on whether next-generation investors feel understood and engaged. Yet most firms still prioritize today’s top clients over their heirs, despite data showing that the majority of inheritors intend to change advisors.

This gap is both a risk and an opportunity: losing next-gen assets can erode enterprise value, while successfully engaging them can secure multi-decade growth. Advisors who shift from one-off introductions to a structured process focused on meaningful experiences and deep understanding will be best positioned to retain family wealth across generations.