Equipping financial advisors for the largest wealth transfer in U.S. history

Over the next two decades, the U.S. will experience one of the largest transfers of wealth in history. $124 trillion wealth transfer is underway according to Cerulli Associates (The Cerulli Report, 2024). This shift is reshaping financial conversations, family expectations, and the way the industry approaches advice.

For financial advisors, the Great Wealth Transfer represents both an opportunity and a responsibility. It calls for stronger multi‑generational relationships, deeper guidance around evolving client priorities, and communication rooted in trust. And this isn’t something a financial advisor should have to do alone.

From client support to technology, we’re helping Edward Jones financial advisors build practices to deeply serve families today and prepare for the future.

Strengthening client relationships across generations
As wealth moves from one generation to the next, financial advisors are increasingly expected to build relationships not just with current clients, but with their heirs as well. In fact, our research shows that 51% of American financial advisors report that clients first engaged with them because of inherited assets, a sign that wealth transfer is already a dominant force in client acquisition.

Supporting multi‑generational clients requires flexibility. Financial advisors need the ability to tailor their practices, engage with families in ways that reflect their values, and help clients visualize the long‑term impact of their decisions. Tools that model multi‑generational scenarios can help families understand how wealth may flow across decades, and how decisions today can shape outcomes for future generations.

Investments in financial technology, like the $1.5 billion we’ve committed to digital solutions, can help financial advisors meet clients where they are, offering more personalized conversations and clearer planning insights for every generation involved.

Meeting evolving client expectations
As family dynamics change, so do the expectations clients place on their financial advisors. Legacy planning, tax‑efficient strategies, and values‑based investing have become major priorities for families preparing to transfer wealth. Financial advisors who understand these themes are better positioned to guide nuanced conversations.

According to American financial advisors, the key ingredients for a successful wealth transfer include:

• Clear estate planning documents that reflect current goals (47%)
• Open communication between clients and their heirs (34%)
• Tax‑minimization strategies (33%)

These factors reflect the increasing complexity of clients’ needs and financial advisors must have support from their firms if they’re going to be successful helping clients through transitions. Specialized, firm-provided services can be critical for success during wealth transfer. For example, Edward Jones Generations® is helping our financial advisors bring deeper resources to clients with $5 million or more in investible assets.

Strengthening communication and trust
Wealth transfer is about more than numbers on a page and legal documentation, it’s about relationships. Financial advisors play a crucial role in helping families navigate sensitive conversations, align values across generations, and make decisions that honor long‑term goals.

Educational resources and training focused on legacy planning can equip financial advisors to guide these conversations with confidence. Meanwhile, technology platforms that enable secure, multi‑generational communication help families stay informed, connected, and engaged throughout the planning process.

Trust becomes especially important during periods of transition. When families understand the “why” behind financial decisions and feel supported by a financial advisor who knows their story, the wealth‑transfer process can become smoother, more purposeful, and more aligned with their intentions.

Trust takes time. Financial advisors need flexibility and time to deepen client relationships. At Edward Jones, dedicated administrative support and choice in practice models mean that our financial advisors can create the time to invest in trusted client relationships.

Positioning financial advisors for success in a transformative era
The Great Wealth Transfer represents one of the most significant moments of change the financial services industry has ever seen, and with it comes extraordinary opportunity for financial advisors. But only for those who can successfully build durable relationships with multiple generations, anticipate evolving client expectations, and guide families through complex decision‑making.

Financial advisors can’t take this on singlehandedly. They need a firm that supports them as they earn trust across the entire family and delivers the technology and resources they need to strengthen client engagement.

Financial advisors who prioritize these capabilities today are positioning themselves not just to manage a historic transfer of wealth, but to lead it—empowering families, deepening relationships, and shaping their practices for long‑term growth.

Learn more about perspectives on the Great Wealth Transfer in Edward Jones’ research, The Pulse of North America.