The silver tsunami is here.
Will you lead through it or get swept away?

Key Takeaways:

• By 2048, $124 trillion is expected to handed down to future generations in the largest wealth transfer in history, called The Great Wealth Transfer or Silver Tsunami.
• Financial professionals who want to thrive through this shift must do more than  manage money. They must guide families through emotionally charged, multigenerational wealth conversations.
• Advisors who engage spouses, heirs, and future decision-makers now will be best positioned to retain assets and build lasting client relationships.
• This moment represents both risk and opportunity: Financial professionals who adapt their approach can become indispensable partners in guiding generational legacies.

What is the silver tsunami and why now?

09/19/2025 – There’s a seismic shift underway in how wealth is owned, transferred, and managed across generations. It’s transforming not only who holds wealth, but what it takes for financial professionals to stay relevant, retain trust, and remain part of the conversation as families evolve.

By 2048, an estimated $124 trillion will change hands in the largest intergenerational wealth transfer in history, according to Cerulli.¹ Some call it The Great Wealth Transfer. Others refer to it as the Silver Tsunami—a phrase that captures both the size of this demographic wave and its impact on family dynamics, decision-making, and financial priorities. 

At its core, the Silver Tsunami reflects the aging of the Baby Boomer generation (the largest in U.S. history) and the sweeping effects of their retirement and longevity. Every day, thousands turn 65. Many are living longer, retiring later, and facing questions around health, housing, and caregiving while also preparing to pass on their wealth.

This demographic shift is reshaping wealth distribution by generation, stressing social systems, and raising the bar for financial professionals. Boomers still need help planning their own retirements, even as they start transferring trillions to the next generation. 

And the Great Wealth Transfer is more than a numbers game. These transitions are personal, tied to legacy, trust, and family dynamics.

This is a pivotal moment for financial professionals. The opportunity to guide generational legacies has never been greater, but neither has the risk of being left behind. Advisors who adapt to new client dynamics, engage multigenerational households, and proactively lead wealth conversations will stand out as indispensable partners in shaping futures and guiding legacies.

The question is, are you ready to meet the moment?

Why the great wealth transfer represents both risk and reward

Roughly 45 million U.S. households will transfer wealth over the coming two decades, including IRAs, 401(k)s, pensions, business equity, life insurance, and real estate, according to Cerulli.1 

More assets in motion means more potential business, but also more risk. Cerulli also found that 70% of heirs may fire their parents’ financial professional.¹ And many women leave advisors after losing a spouse because they felt left out of the financial planning process.

While the scale of wealth being transferred is staggering, advisors’ focus needs to be on relationships, families, and emotions. And whether you’re ready to support a changing cast of decision-makers across generations.

Financial professionals who focus solely on investment management risk irrelevance. Those who engage heirs, spouses, and family members now have an opportunity to gain trust and guide legacies for generations. These wealth transfer planning strategies can help you build that trust.

Key trends reshaping wealth planning conversations

1. Multigenerational families are the new normal

Rising housing costs, longer life expectancies, and shifting caregiving roles have created a spike in multigenerational households. 

This brings new complexities around budgeting, estate planning, and caregiving responsibilities. Financial professionals can act as mediators, helping families navigate shared financial decisions while keeping long-term goals in focus.

Encourage intergenerational wealth planning and family succession planning conversations early. Address potential friction points—like differing charitable giving priorities, disagreements over a family business, tax planning for family wealth transfer, or varying comfort levels with risk and create strategies that involve all generations and their goals. 

Consider introducing long-term care insurance to help families prepare for future health-related expenses.

2. Women are gaining control of more assets

One-third of U.S. household financial assets are already controlled by women, and that figure is growing rapidly as they outlive spouses and inherit wealth from parents and partners. Women also have unique financial considerations around retirement planning, caregiving, and balancing goals that require thoughtful, personalized guidance. 

Research shows that women believe that working with a financial professional would make it easier to engage families and reach consensus around wealth transfer planning conversations. 

Still, many feel underserved or dismissed by financial professionals: feeling unheard was the No. 1 reason women switch advisors, according to RFI Global.

If you haven’t already, shift your approach to how you engage female clients. Empower them by ensuring female partners are part of every meeting. Invite input from couples on key decisions, and make sure their joint perspectives are reflected in the plan. 

Ask about values, concerns, and goals, especially around retirement income, legacy giving, and caregiving. Keep the dialogue ongoing and focus on empowering female clients during wealth transitions. 

3. Gen X, millennials, and gen Z are taking the stage, and they’re looking for guidance

Gen X is next in line to inherit and manage significant wealth, often while juggling their own retirement planning and supporting both aging parents and adult children. Millennials and Gen Z will follow, poised to inherit trillions.

All generations want more than a money manager. They want a mentor and collaborator who can provide education, foster confidence, and help them make informed decisions.

Helping clients build financial literacy early and instilling confidence in their long-term plan creates sticky relationships. Wealth transfer planning, done well, differentiates you and allows you to deliver deeper value while strengthening client loyalty.

If families are hesitant, offer low-pressure entry points like “family vision” sessions or offering to help boost financial literacy for young adults. 

Don’t wait for the money to move. Begin building trust by inviting heirs, future decision-makers, and key family stakeholders into conversations about long-term goals, shared values, and the vision for their resources. Try this legacy planning fact finder to start.

From financial professional to legacy steward: How to prepare now

Thriving through the Silver Tsunami isn’t about chasing assets. It’s about helping families clarify values, communicate wishes, and preserve what matters most.

Here are some ways to start the conversation and effectively engage clients and their heirs:

• Initiate family meetings to discuss legacy goals. Creating an inclusive environment for spouses, children, and other key decision-makers can help get everyone on the same page.
• Use real-life scenarios (caregiving, long-term care needs, charitable giving) to frame planning around impact, not just assets.
• Tailor your communication style for different generations, whether they prefer in-person discussions, digital touchpoints, or collaborative tools.
• Recognize women as independent financial decision-makers and emphasize their role as valued partners in the planning process.
• Reframe retirement and legacy planning as a family affair. Engage with the next generation, such as beneficiaries, to build trust and ensure early involvement in wealth discussions.
• Address the emotional side of inheritance and transition to deepen trust.

For more ideas on facilitating meaningful wealth transfer conversations, watch this video on estate planning and transferring wealth and explore A client’s legacy: Your role in wealth transfer plans.

More than managing wealth, you’re guiding legacies

In times of significant change, your role takes on a greater purpose. You're not only a strategist, you’re a steward of family connections and shared values. 

The Great Wealth Transfer isn’t just a market trend. It’s an unprecedented shift in relationships, decision-making, and opportunity—one that demands your attention.

This is your moment to deliver extraordinary value for your clients while securing your practice’s future. Help them make the most of the legacy they’ve built and ensure it’s passed on with clarity, confidence, and meaning.