In this episode of Solin Speaks, Dan Solin unpacks the most significant shift in wealth management in modern history: The Great Wealth Transfer. With an estimated $84 trillion set to move from baby boomers to their heirs over the coming decades, financial advisors face a critical question: Will they retain these next-gen clients or lose them altogether?
Joined by co-host David, Dan reveals that up to 90% of heirs fire their parents’ advisors after inheriting wealth. The reasons? A lack of relationship, outdated communication styles, rigid pricing models, and a disconnect from next-gen values like ESG and impact investing.
Dan emphasizes that AI is quietly reshaping the competitive landscape, offering younger investors personalized strategies, 24/7 support, and seamless digital experiences that many traditional advisors have yet to match. The result? Next-gen clients increasingly trust algorithms over advisors—unless advisors adapt quickly.
To retain next-gen clients, Dan advises advisors to build relationships with heirs now, modernize communication channels, rethink pricing models, align with evolving client values, and integrate AI as a tool, not a threat. The firms that embrace these changes will thrive. The rest risk becoming irrelevant.
Dan’s message is clear: The wealth transfer isn’t coming—it’s already here. Advisors must evolve to remain essential in a world shaped by AI and generational change.
Dan Solin
📧dansolin@ebadvisormarketing.com
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