The Democratization of the Family Office
December 2024
The great wealth transfer is well underway. This is not a secret, nor am I the first person in the industry to write about it. Still, the numbers are nonetheless staggering: Generation X and millennials will inherit $84 trillion over the next few decades.
$84 trillion! This is more than half of all the household wealth in the country.
For financial advisors in the independent channel, all of this is both an opportunity and a threat. On the one hand, this can be the impetus for you to develop new skills and prove your worth, which could translate into new business.