The Great Wealth Transfer

3 Tips to Prepare for The Great Generational Wealth Transfer

An estimated 84 trillion dollars in wealth will be transferred to estates in the next three decades. With the ‘Great Wealth Transfer’ upon us, wealth management firms have to equip themselves optimally to help their clients with the transfer of funds and businesses, and the growth processes of both. 

By embracing tech, fostering intergenerational relationships, and helping your clients understand their financials, you can stay ahead of the curve.

1. Embrace Tech and Scale

Technology is pivotal in how wealth management firms operate and interact with clients. To effectively navigate the generational wealth transfer, it's essential to evaluate your tech stack and streamline processes for efficiency, and effectiveness. This includes investing in robust digital platforms that save you time, and empower SMB owners to grow their businesses.

Millennials and Gen Z, who are set to inherit a significant portion of the wealth, are tech-savvy and prefer the convenience and accessibility of cloud-based platforms. interVal is an ideal solution for this audience. By connecting their financials to the platform, your SMB clients can uncover hidden growth opportunities.

Leveraging tech-based solutions that are data-driven and personalized can enhance your wealth firm's efficiency, allowing you to scale your services, and reach a broader audience without increasing the size of your team.

2. Focus on Intergenerational Relationships

To effectively serve multiple generations within a family, you may want to foster intergenerational relationships built on trust, transparency, and empathy.

Create pathways to attract and retain clients across different age groups and facilitate meaningful conversations about wealth planning and investments. By understanding the unique needs and preferences of each generation, you can develop comprehensive wealth transfer strategies that align with their values and objectives.

You may also want to consider offering educational workshops and webinars specifically tailored to younger beneficiaries who may be inheriting wealth for the first time. Empowering them with financial prowess and decision-making skills can help ensure a smooth transition and promote a sense of ownership and responsibility over their inherited assets.

3. Foster Financial Literacy

As a proactive wealth management firm, prioritizing financial literacy training can be a game-changer in preparing both current and future clients in the realm of their wealth. From basic financial concepts to advanced lending, investment, and tax strategies, you can empower SMB clients with the tools and resources they need to navigate complex financial landscapes.

Streamlining financial literacy components into your processes can help your SMB clients make informed decisions. Through Key Metrics, interVal helps SMB owners make sense of opportunities presented to them. Informed business owners make decisions confidently and regularly, ensuring consistent growth for all stakeholders.

By equipping clients with the knowledge to manage their businesses effectively, you strengthen your relationship as a trusted partner. As your clients become more empowered and engaged in their financial affairs, they become better positioned to preserve and grow their wealth over the long term, ensuring a smooth and successful transition for generations to come. 


By being proactive, and taking advantage of technology and AI, you can position your firm for success in this ever-evolving landscape. Book a demo with us and learn how you can empower your clients to grow their wealth for generations.