The Great Wealth Transfer is no longer on the horizon, it's here. An estimated $124 trillion in global wealth is changing hands and financial institutions that recognize this moment will define the next era of wealth management. New research surveying thousands of families and advisors across the U.S., Canada and the UK reveals a paradox: this is simultaneously the most anticipated and the least prepared-for financial event of our era.
The data is a wake-up call for banking and financial services leaders. 60% of families expect a wealth transfer event within the next decade, with an average timeline of just seven years, yet only 28% expect transfers to go smoothly. Meanwhile, 97% of advisors are aware of the impending shift, but 56% describe themselves as only somewhat or minimally prepared. Awareness has not translated into action, and the institutions still operating as though there is time to wait are already falling behind.
This research uncovers the invisible barriers — emotional, behavioral and operational — that are quietly eroding wealth preservation and complicating intergenerational transitions. It also maps the strategic imperatives for financial institutions ready to lead: from education-first advisory models and digital estate planning integration to developing the family facilitation capabilities clients are now demanding. Senior leaders in banking and financial services will find in this report the data and strategic framework needed to capture a once-in-a-generation opportunity.