The Great Wealth Transfer: What Advisors & Firms Can Do in 2026
The “Great Wealth Transfer” is typically described in terms of dollars. And although the dollar amount is staggering, behind every dollar is a family, a loss, and a complex emotional process.
By 2048, an estimated $124 trillion will transfer in the U.S. Roughly $18 trillion will go to charity, but most will go to heirs. This moment is both a major opportunity and a time of deep vulnerability for families and for the firms that serve them.
Money doesn’t move itself; people move it. After a death, families don’t just need portfolio management. They need guidance through grief and the overwhelming logistics of settling an estate. To stay relevant to the next generation, advisors must look beyond returns and engage with the human experience behind the wealth.
The Attrition Crisis: Why Heirs & Spouses Walk Away
70% of heirs and surviving spouses switch advisors after inheriting wealth.
This is usually not about performance, but relationships. Advisors often have strong ties to the original client but weak or no connection to the spouse or children. When that client dies, the advisor is seen as “my dad’s financial person,” not a trusted partner.
There’s also a gap between perception and reality:
85% of advisors report discussing wealth transfer.
87% say they involve family members.
Yet only 58% of those advisors retain the assets after a next-gen transfer.
Talking about estate plans isn’t enough. Families need help with:
Closing accounts and managing paperwork
Handling funeral and administrative tasks
Resolving issues without fueling conflict
If the advisor is missing during this acute period or only appears to discuss assets, trust erodes. Heirs look for someone who understands their reality and offers a modern, holistic, tech-enabled experience.
What Next-Gen Heirs Want
Millennial and Gen X heirs expect more than traditional reviews focused on performance.
They are looking for:
Holistic, tech-enabled planning with real-time digital access, not paper binders
Financial literacy plus emotional support from an advisor who acts as a coach and partner
Help align new wealth with their values and life goals
This is where tools like Empathy become strategic. Firms need to operationalize care and put systems in place so advisors can:
Support the practical burdens of loss
Offer tools to close accounts, navigate probate, and organize documents
Collaborate securely with families and other professionals
Blending human guidance with technology creates a scalable “human + tech” bridge that matches how next-gen heirs live and make decisions.
The Bottom Line: Earning Trust When It Matters Most
The Great Wealth Transfer is inevitable; losing 70% of those assets is not.
Advisors who succeed will be those who show up for families during the most vulnerable moments—when grief, logistics, and financial decisions collide. By combining compassion, transparency, and practical support, firms can:
Protect and grow multigenerational relationships
Preserve not just assets, but legacies and family cohesion
The opportunity is enormous, but so is the responsibility. Focusing on the human side of wealth turns a massive transfer of assets into something much more enduring: long-term trust across generations.
Empathy’s award‑winning platform can help firms do this at scale by:
Extending support to families through the practical and emotional work of loss
Providing education that makes complex choices more approachable for spouses and heirs
Giving advisors tools that reinforce trust and long‑term financial well-being