The Decade of Generational Wealth

The next decade will bring profound change for many families. Stay prepared with our 8 Strategic Imperatives infographic.

 
The Decade of Generational Wealth

Baby Boomers as a group are hitting critical age and health milestones, moving to deaccumulation and spending, leading in a sell-off of equities, real estate, and private businesses, and encountering significant health and long-term care costs.

How you engage boomers and their family members—caregivers, inheritors, decision makers, and wealth accumulators—will help shape the future growth of your business over the next ten years.

$70+ millionboomers control54%householdwealth~1/2of privatebusinesses70%of investableassets

8 Strategic Imperatives

Learn more to help grow your future business through generational family conversations

1. Navigating Change of Control with the Primary Decision Maker

In 2030, all boomerswill be over 65~40% between 75-84567466–84years old

How are you partnering with your clients and families to prepare for a change of control scenario due to the aging boomer life-stage?

2. Facilitating transparency and family engagement around planning

64%of wealthyindividualshave not talkedto family aboutpassing on assets

What are you doing to facilitate wealth planning transparency in order to avoid secretive and potentially disruptive disclosures?

3. Empowering women as heads of households and as investors

by 2030,American womenare expected tocontrol much of the$30 trillionin financial assets

What are you doing to form authentic couple partnerships and empower women as investors and decision makers?

4. Developing multigenerational dexterity for a socially diverse family

onlyof investors38%say their advisors are a“multi-generationalresource for the family”

How are you planning to engage and support diverse multi-generational family interests and conversations?

5. Engaging the modern family and complex planning considerations

Almost 1 in 4 marriedpeople have been marriedtwo times or morenearly 40% ofremarried menhave a6–10-plus-yearage gap

How are you participating in the planning and emotional complexities of the modern family?

6. Expanding the financial, emotional, and familial health conversations

68%of Americanshave not hadan end-of-lifeconversation

What can you do to take a more proactive and facilitative approach that expands the family health conversations?

7. Stepping into the multigenerational life event moments with families

Depending on the life event,24%–65% of investors preferadvisors to be a resourceInheriting moneyA major gain or lossof income or assetsDeath of a spouseor loved oneSignificant healthor serious illness

How are your client's life-events part of your engagement strategy for building all-of-life generational relationships?

8. Planning proactively for the boomer succession in your business and the industry

70%of an advisor's bookleave after a changein advisor

How are you thinking about the advisor or firm succession process as part of the changing marketplace and future growth opportunities?

The next decade will bring profound change for many families. Stay prepared with our 8 Strategic Imperatives infographic.

Navigating the Decade of Generational Wealth

Learn insights for growing your firm through generational family conversations.

Connect with us on your terms

If you would like to learn more or have questions on how to build these ideas into your practice please contact your Fidelity representative.

Navigating the Decade of Generational Wealth

Learn insights for growing your firm through generational family conversations.

Navigating the Decade of Generational Wealth

Learn insights for growing your firm through generational family conversations.

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