We’ve talked ad nauseum, in this industry, about the risks and opportunities associated with generational wealth transfer. The question remains, are you talking about it or taking meaningful action?  

Recently we spoke with the client experience leads of 28 large RIAs, all of whom are members of our Experience Innovation Board. We wanted to understand how the most progressive firms are tapping into the opportunity and protecting against the risks. 

The data highlighted the real risks and opportunities, including the following. 

There is a readiness gap.  

• Fewer than a third of client experience (CX) leaders say their business is currently designed to attract next generation clients. They see the importance of engaging heirs but haven’t fully adapted their structures, processes, or marketing to do so effectively.  

The risk is insidious.  

• Advisors often worry about not being introduced to their clients’ children—but the bigger risk may be meeting them and failing to deliver an experience that reflects their needs.  

Tailored experiences respond to the risk. 

• Progressive firms are focused on tailoring their services for younger clients, with a growing emphasis on digital delivery. We believe that tailored experiences must go beyond core services and reflect how clients learn, connect, and engage. 

• Family legacy meetings are common when working with high-net-worth clients, but they don’t always address the deeper concerns and aspirations of families. Advisors have an opportunity to differentiate themselves by co-creating agendas that reflect what matters most to the adult children, fostering richer conversations that strengthen relationships across generations. 

It all starts with better data. 

• Even forward-looking firms acknowledge they lack the depth of data needed to personalize experiences effectively. Structured, data-driven approaches to capturing next-gen needs, challenges, expectations, and aspirations are critical. Without this “soft data,” even the best intentions can fall flat. 

Parents aren’t always the best path to the children. 

• Too often, growth strategies rely solely on parent-to-child introductions. While valuable, this approach is limited. Proactive strategies—such as educational programs, engagement initiatives, and early relationship-building with heirs—help advisors connect directly with the next generation and build trust long before assets transfer. 

On the basis of those conversations, we created a five-point action plan to help you think about re-imagining your experience to meet the needs of the next generation and creating a pipeline to connecting with this critical target group. 

Thanks for stopping by

Julie

P.S.  If you would like to learn more about the Experience Innovation Board, click here.