Winning the Next Generation of Wealth: Marketing Insights
The greatest transfer of wealth from one generation to another is happening now—and it’s creating a complex challenge for financial marketers. While trillions are expected to move from Baby Boomers to Millennials and Gen Z in the next 20 years, the rules of engagement are shifting. This rising cohort doesn’t behave like previous generations. They have different expectations for advisor relationships, digital tools, and financial education—and without a thoughtful, insight-driven approach, even well-established brands risk losing relevance as wealth changes hands.
Our new “Next Gen” Wealth Insights highlights how marketers can think and act differently as wealth migrates from older generations to Millennials and Gen Z.
Just 100 days ago, the timeline and scale of this transfer could be approached with more certainty. But a rapidly changing geopolitical climate has introduced a “wildcard.” An unsteady stock market and growing consumer uncertainty will likely impact this event—either accelerating or slowing down the process for individuals.
Some may see opportunities. Wealthy individuals could acquire discounted assets, increasing their wealth before passing it along. Others may see the value of their assets decline, reducing what’s ultimately transferred.
At the same time, other forces are in play:
- Accelerating wealth transfers to support younger generations during a time of economic hardship.
- Selling assets without significant loss could motivate transfer of wealth sooner than planned.
- Purchasing discounted assets could increase the wealth being transferred.
While the pace and size of wealth transfer may shift, the insights, needs, and behaviors of next-gen inheritors remain steady. In fact, their priorities may become even more urgent:
- A desire for financial education
- Trust in a financial advisor
- Guidance through complex family dynamics
- A high-tech, high-touch client experience
Our Next Gen Wealth Insights serves as an at-a-glance reminder of insight-driven, best practices to guide marketing based on generational insights. As the wealth transfer gains momentum, now’s the time to align your strategy with what matters most to the next generation. Download our latest insights to get started.
