The Great Wealth Transfer refers to the unprecedented shift of wealth from the baby boomer generation—those born between 1946 and 1964—to their children and grandchildren, spanning Generations X, Y (Millennials), and Z. Over the coming decades, trillions of pounds in assets, including property, investments, and pensions, are expected to be passed down as older generations pass away. In the UK alone, estimates suggest that more than £5.5 trillion will be transferred over the next 30 years, making it the largest intergenerational transfer of wealth in history. This shift is already having significant implications for inheritance tax revenues, financial planning, and the broader economy.
This hub brings together the key insights, data, and practical tools financial advisers need to prepare, engage, and lead in this pivotal shift.
Key statistics at a glance
£8.2 billion
£13.9 billion
£5.5 trillion
Over 50%
63%
80%
Fewer than 1 in 3
£150,000
What this means for advisers
Legacy Planning is Now a Core Expectation
Clients increasingly want to leave more than just money — they want to leave meaning. Advisers need to facilitate conversations about values, charitable giving, family purpose, and long-term impact.
Inheritance is Becoming a Key Driver of Wealth Creation
For many Millennials and Gen Z, inheritance will be their primary source of wealth accumulation — not earned income. This changes the nature of advice needed: from budgeting and saving to managing sudden liquidity and wealth stewardship.
Property is at the Heart of the Transfer — and the Risk
With most UK wealth tied up in property, advisers must help clients plan for property-based inheritances, including tax implications, equity release, and liquidity planning.
Inheritance Tax Planning is More Urgent than Ever
Record-high IHT receipts mean more estates are being caught in the net. Advisers must proactively guide clients on mitigation strategies like trusts, gifting, and AIM-qualifying investments.
Family Conversations Are a Business Development Tool
By helping facilitate open discussions between generations, advisers can become the trusted family financial partner — strengthening retention and broadening relationships.
Digital-first Heirs Expect Seamless Advice
Millennials and Gen Z value speed, transparency, and online access. Firms that don’t modernise their client experience risk being left behind — regardless of investment performance.
Values-aligned Investing is on the Rise
Younger inheritors are more likely to demand ESG and impact-aligned portfolios. Advisers must be fluent in sustainable investing and able to demonstrate how portfolios reflect personal values.
Intergenerational Wealth Brings Emotional Complexity
The transfer of wealth often triggers complex emotions — grief, guilt, family tension. Advisers must be empathetic communicators and, at times, informal mediators.
Advisers Who Delay Will Lose Out
The firms building relationships with the next generation before the inheritance arrives will win. Those who wait risk losing clients — and the future of their business.
