The Great Wealth Transfer Is Upon Us

January 25, 2023

CNBC recently published an article on the ‘Great Wealth Transfer’, shorthand for the 68 trillion expected to be passed down from boomers to the younger generation, and several strategies for advisors to navigate the shift…

Between Bill Gates’ pledge to give “virtually all” of his wealth away and Patagonia founder Yvon Chouinard’s recent decision to donate his entire company to fight climate change, it’s clear views of inherited wealth have changed.

Those high-profile pledges are happening as part of the greatest generational wealth transfer in history, with baby boomers set to pass to their children more than $68 trillion.

“It’s a generation that has accumulated a greater percentage of wealth that any other generation ever has,” said Mark Mirsberger, a certified public accountant and CEO of Dana Investment Advisors, No. 2 on this year’s CNBC FA 100 list.

“It’s a great opportunity. If they don’t plan for it, they don’t have to worry about it, the government will do it for them,” he said referring to how state intestacy laws will govern how assets are distributed without a will in place.

The next generation of investors clearly have an increased desire to align their values with thier investment capital – will you or your advisors be ready with attractive Impact opportunities when they inevitably ask for them?

Related News