As trillions in assets move between generations in the coming decades, families and advisors must prepare thoughtfully. The choices made today will shape financial security and values for decades to come.
We stand on the brink of unprecedented wealth transfer in modern history. Experts project that by 2048, roughly $124 trillion will pass hands worldwide, with $105 trillion directed to heirs and $18 trillion to charitable causes. Baby Boomers and older generations account for nearly 81% of this flow, underscoring the magnitude of what lies ahead.
This wealth is heavily concentrated: more than 50% of the total volume ($62 trillion from the top 2% of households) originates from high-net-worth and ultra-high-net-worth families. Such concentration amplifies both opportunity and responsibility for families and advisors alike.
Beyond transfers to children, horizontal wealth exchanges shape the legacy picture. Spouses will receive an estimated $54 trillion before assets move to the next generation. Widowed women alone are projected to become chief asset managers for over $40 trillion, as they outlive their partners on average.
Gen X and Millennials together stand to inherit about $85 trillion, yet timing differs. In the next decade, Gen X will receive $14 trillion annually versus Millennials’ $8 trillion, reflecting their sandwich generation pressures—caring for both aging parents and growing children.
Women are emerging as pivotal financial decision-makers. Over the next 24 years, younger women are set to inherit $47 trillion, marking a significant demographic shift toward female wealth holders. As 97% of Boomers know their inheritance plans, advisors must acknowledge that 41% intend to adjust strategies upon receipt.
Wealth firms that embrace this change by tailoring services for women’s preferences will foster deeper engagement and support long-term growth.
Sources of wealth differ markedly across regions. In Asia Pacific and Continental Europe, business ownership accounts for 76% and 67% of assets, respectively. In contrast, inherited assets drive 77% of wealth in the UK and 69% in North America.
A Global Wealth Study surveying 250 professionals across 27 countries revealed that firms managing $15.1 trillion in assets are prioritizing strategic expansion, innovation, and deeper client engagement to meet varied regional needs.
Financial advisors and families can adopt proven strategies to ensure seamless transitions:
As wealth shifts, the market share will reward firms that adapt. Younger clients—Millennials and Gen Z—grew from 8% of high-net-worth portfolios in 2021 to 25% in 2024. They demand values-based investing and technology-driven solutions, and favor self-directed platforms with robust digital tools.
Portfolio allocations reflect similar diversity. Asia Pacific and Continental Europe currently allocate 40% and 34% of assets to private markets, while the UK and North America weigh public equities at 54% and 51%. Looking forward, 84% of investors plan to increase European exposure, 78% to APAC, and 63% to North America.
Inflation adjustments, pandemic-driven asset growth (equities up 27%, real estate up 39%), and ongoing wealth concentration among older households have all contributed to rising transfer projections. These dynamics demand that advisors and families remain agile.
Crafting a lasting wealth legacy requires foresight, communication, and tailored strategies. By engaging families early, embracing demographic shifts, and aligning portfolios with evolving preferences, you can ensure a smooth and meaningful transfer of assets and values. The time to act is now—your legacy awaits.
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