A recent article in the Wall Street Journal highlights that Baby Boomers are sitting on an estimated $110 trillion in wealth while that number is closer to $46.2 trillion for Gen Xers.
The big picture: How and when that wealth will trickle down to younger generations is debatable.
Yes, but: Research from the Nationwide Retirement Institute highlights a clear contrast: younger investors are more eager to involve financial advisors in family discussions about wealth transfer, while older generations remain far more private.
- Sixty percent of Millennials (ages 30–45) who work with financial professionals say they would welcome their advisor serving as a facilitator for cross-generational financial planning conversations.
- That openness drops significantly among older cohorts, with just 32 percent of Gen X investors (ages 46–61) expressing the same interest—and only 16 percent of Baby Boomers and older (62+) willing to take that step.
Why it matters: The findings underscore a broader shift in expectations around financial planning. As younger generations increasingly prioritize transparency and collaboration, advisors may find new opportunities to serve as trusted facilitators—bridging communication gaps and helping families navigate the complexities of wealth transfer across generations.
