More than $120 trillion in wealth will be passed down to inheritors in the next 25 years, according to a recent Cerulli study. But while that money may stay in the family, it more than likely won’t stay with the same advisor.
And that’s good news for next-gen advisors, or at least the ones that are preparing to capitalize on it.
Only 27% of widows and children plan to keep their benefactor’s wealth advisor, as per Cerulli’s survey of investors with at least $250K in financial assets. And that drops to 20% for those who have already inherited their riches.
It’s not that these wealth-inheritors plan to invest these assets themselves or use an online financial service. Half of those surveyed said they already had their own advisor, while the next most popular explanation, at 28%, was not having a relationship with their benefactors’ advisor.
With less than one-third of heirs sticking with their benefactor’s advisor, the issue is one of neglect or a lack of having the hard conversations with both parties, according to Brian Mills, wealth manager at Savvy Advisors.
“Simply put, you go where you’re valued and feel welcome. As advisors bridge this gap, we’re able to speak the language of both the benefactors and the recipients from a place of expertise, empathy, and shared ethics and values,” Mills said.
Meanwhile, Cameron Rogers, partner at Angeles Wealth Management, points out that next-gen advisors have credibility with clients because they are going through their own family transitions, so they know what it’s like to juggle caregiving, career, and legacy planning all at once. And that lived experience “shapes how they show up.”
She adds that they have also grown up through constant disruption including the Great Financial Crisis, the rise of Silicon Valley, global policy shifts like the European debt crisis and Brexit, the pandemic, inflation, and dramatic interest rate swings. All of which offer them the experience many older investors accuse them of lacking.
“We’re not just younger, we’re deeply aligned with the mindset of next-gen wealth holders,” said Jojo Cresci, senior wealth advisor at Mercer Advisors.
Cresci believes clients are increasingly looking for advisors who understand their values, communicate transparently, and integrate technology seamlessly. And as a next-gen advisor, she feels she brings a “modern lens” to legacy planning, blending digital tools with human insight.
“We’re building relationships that go beyond asset management—we’re helping clients define purpose, navigate complexity, and steward wealth across generations,” Cresci said.
From a next-gen perspective, Savvy’s Mills believes the makeup of professionals sharing and providing financial advice to clients in the coming decade will be much more diverse and representative, yielding much more inclusive and empathetic advice. In his view, the coming years will provide a major opportunity for younger advisors to connect with both their more seasoned clients as well as their younger counterparts.
“The integration of tech-enabled tools and resources that simplify and enhance advisor efficiency and the client experience, combined with empathy and understanding that complement hard-earned, battle-tested expertise, and access to investment solutions and advisors aligned in values and ethics, will prove invaluable for next-gen investors receiving next-gen financial advice,” Mills said.
Along those lines, Angeles’ Rogers refers to empathy as the “new alpha.”
“Investments are commoditized, there are seemingly infinite avenues to build a diversified portfolio. What can’t be replicated is genuine connection. Next-gen clients expect authenticity, and they know when actions are performative,” Rogers said.
Rogers notes that leading with empathy means often stepping into the messy middle - where conversations about values and legacy meet the realities of complex assets, blended families, outside beneficiaries, and the need to respect differences rather than force agreement.
“The next decade of financial advice will belong to those who blend numbers with humanity. We’ll see earlier involvement of heirs, more collaborative planning, and tech-enabled tools that make wealth management transparent and participatory. Many of us will grow alongside our clients - through their transitions, family changes, and business cycles - building continuity that naturally carries across generations. Investment management will be the baseline,” Rogers said.
Mercer’s Cresci, for one, sees the future of advice being deeply personal, tech-enabled, and values-driven. She sees advisors increasingly acting more like life strategists in terms of blending financial acumen with coaching, behavioral insights, and impact planning.
“AI will streamline analysis and reporting, freeing us to focus on relationships. Digital tools will make advice more accessible, but human connection will remain the differentiator. The next decade will be about helping clients live well, not just retire well,” Cresci said.
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