There’s more than money on the move

Cathal Smyth, Executive Director, Strategy at Bladonmore, discusses seven shifts that show how the Great Wealth Transfer is reshaping private investment

The numbers alone are startling: an estimated $84 trillion is expected to change hands over the coming decades.

At its heart, the Great Wealth Transfer is a handover of financial power – often from those who spent decades building wealth to those still deciding how they want to use it. But the Great Wealth Transfer isn’t just a financial event. It’s a reordering of influence, responsibility, and intent – as a new generation takes control of capital and begins to redefine what it means to invest.

For private wealth firms, the challenge isn’t just tracking where the money is going. It’s understanding how that money will be used, and by whom. Here are seven deeper shifts already reshaping the future of private investment.

1. Transfer across asset classes
   The new generation of wealth owners is rethinking what investing looks like. Many are moving beyond traditional portfolios and exploring private markets, infrastructure, impact funds and thematic strategies. These choices often express identity and intent, not just financial logic.

Implications:

• • Investment preferences increasingly reflect personal values as younger investors prioritize assets that align with their views on sustainability, innovation, and social impact.
  • Wealth management firms must educate this audience about alternative assets while addressing concerns like risk, transparency, and accessibility.
  • Asset managers and investment advisors will need to overhaul their product portfolios to remain relevant to the next generation of investors. Firms with narrow or rigid offerings risk becoming irrelevant.

2. Transfer of relationships
   There is no guarantee that the advisor-client relationship will be inherited along with the assets. Many wealth inheritors will want to work with someone who reflects their outlook, not just someone who served their parents well.

Implications:

• • Advisors must earn trust from scratch, often in unfamiliar ways. They will need to appeal to younger generations, demonstrating flexibility, transparency, and an understanding of new asset classes and technologies.
  • Communication style, cultural fit, and tech fluency all matter.
  • Branding and communication will be critical. Advisors must distance themselves from being seen as outdated or tied to the older generation’s priorities.

3. Transfer of knowledge or the absence of it
   Inherited wealth often arrives faster than the confidence or capability to manage it. That gap can create vulnerability – or a window for firms to add real, long-term value.

Implications:

• • Advisors and firms must play a more active role in educating the next generation, emphasizing financial planning, investment basics, and risk management.
  • Educational content and workshops (in person or digital) will become a key requirement for firms trying to capture the next generation of clients.
  • Education becomes a loyalty strategy, not a side offering. Explainers, planning tools and personalized guidance can help build relationships with advisors and their clients, especially content that is designed to be used by both parties.

4. Transfer of investment philosophy
   Inheritors are often more purpose-led than their predecessors. They’re asking where their money goes, what it funds, and what kind of legacy it creates. Return still matters but so does alignment.

Implications:

• • Firms must cater to this shift by integrating ESG metrics, sustainability narratives, and impact measurement into their offerings.
  • They may need to offer more niche or thematic investment options, such as climate tech funds, renewable energy portfolios, or social impact bonds.
  • Storytelling and transparency will play a big role in building conviction.

5. Transfer of decision-making power
   As younger generations take control of trusts, foundations or family offices, they reshape how wealth is used and who has a say. The shift is often generational, but it’s also about outlook and authority.

Implications:

• • Advisors must navigate new family power dynamics carefully, ensuring alignment with the new decision-makers without alienating other stakeholders.
  • Multigenerational thinking will shape how firms design services and teams.
  • The rise of family offices may spur demand for bespoke, high-touch financial services tailored to multi-generational needs.

6. Transfer towards purpose and philanthropy
   For many inheritors, wealth isn’t just to be preserved, it’s to be put to work. Giving is increasingly strategic, values-driven and visible.

Implications:

• • Philanthropy will become more integrated into overall wealth planning. Wealth management firms must help clients integrate charitable giving into their broader financial strategies.
  • Tools like donor-advised funds or impact investment vehicles may become increasingly important.
  • Firms that can help shape a client’s legacy will deepen their relevance. Being able to craft compelling narratives about a client’s philanthropic impact will resonate with many younger investors.

7. Transfer of tools and expectations
   The new generation of clients may not manage their wealth directly but they still expect better tools, faster answers, and more transparency from those who do. Digital fluency is about credibility as much as convenience – digital expectations shape perceptions, whether or not clients are logging in themselves.

Implications:

• • Legacy tech and slow processes erode trust, even behind the scenes. Advisors and asset managers must invest in modernizing their tech stacks, offering seamless, intuitive, and data-rich platforms.
  • Firms that fail to embrace digital transformation risk losing relevance with tech-savvy heirs. Advisors must adopt better tools to deliver faster, clearer insight.

Conclusion
The Great Wealth Transfer isn’t a moment in time – it’s an ongoing transformation. It touches not just where wealth sits, but how it’s understood, managed, and put to use. For firms hoping to remain relevant, the imperative is clear: adapt to the values, expectations and priorities of a new generation. Because what’s being transferred isn’t just wealth. It’s influence.

If you’re looking for help in positioning your offer for new wealth audiences, get in touch.