Gemma Livermore FS Marketing Director at Seismic
By 2045, an estimated $84 trillion in wealth will change hands across generations. As one of the largest wealth transfers in history, a significant portion of this wealth will pass from aging baby boomers into the hands of women. In fact, between now and 2030, women worldwide are expected to gain control of an additional $20.7 trillion in financial assets.
This monumental shift presents both an extraordinary opportunity and a pressing challenge.
It was only 50 years ago that women were permitted to open their own bank accounts. These circumstances, rooted in historical inequality, now mean that many women lack experience in dealing with large sums of money. As a result of these systemic setbacks, women entering into high-net-worth brackets will likely seek advice on how to effectively handle their financial assets.
As such, wealth management firms and financial advisors must step up and provide them with the support and advice they need to manage their wealth. So, where’s the starting point?
The changing face of wealth
According to McKinsey, women control roughly one-third of all retail financial assets across the EU and United States. This share is projected to rise to 40-45% by 2030.
So far, industry players haven’t adapted to seize the opportunity presented by women’s growing asset control: recent Ellevest research found that only approximately 50% of women know where to go with a financial windfall, compared to 72% of men. This typically results in a large portion of women moving their money into bank accounts – a safe approach, but not one that’s growth-oriented.
This rising client base of affluent, financially empowered women calls for a mindful and considerate approach to financial advisory.
A new demographic with unique needs
Women represent a new and distinct kind of wealth holder: purpose-driven, risk-aware, and deeply values-oriented.
Where templated strategies are rarely effective, generic advice from the metaphorical advisory playbook won’t cut it. Ellevest’s study also revealed that women typically preferred risk advisors who didn’t use unnecessary jargon and helped them invest in areas that directly aligned with their values, not just pure market performance. The research further highlighted a greater emphasis on goal-based financial planning, philanthropy, and environmental, social, governance (ESG) considerations.
Financial advisors need to offer tailored, education, and value-aligned advice to reflect women’s preferences around risk, security, and long-term planning. This means ditching outdated, product-focused advice, and understanding their investing behaviours.
Female clients are eager for financial advice and education, but it must be delivered in a way that acknowledges their distinct needs and builds confidence. Advisors who acknowledge these differences and are sensitive to potential knowledge gaps will seize the opportunity to support and educate the fastest-growing segment of wealth.
The role of technology
To effectively serve the next generation of female investors amid the great wealth transfer, advisors should look to modern technology as an ally.
Digital innovation is transforming how financial advice is delivered, enabling more personalised and data-driven client experiences. In fact, some industry experts note that technology will be imperative for navigating this wealth shift and engaging a younger, wealthier client base.
How? By helping advisors visualise long-term planning, generate personalised insights based on the individual, and support transparent, continuous communication.
The key element to note here is the term ‘ally’. Technology should support advisors in facilitating a healthy blend of tech-enabled insights and human connection. Digital enablement tools can provide educational resources in digestible formats, and track engagement to reveal what topics truly resonate, enhancing transparency, accessibility, and confidence – while also embedding purpose into planning conversations to ensure every interaction delivers real value.
With enablement technology taking care of the repetitive, time-consuming work, it allows the human advisor to focus more on educating and engaging with their clients in a more meaningful way.
Becoming a leader for change
This cultural and economic shift is already underway. As women gradually gain control of more wealth, financial advisors and the broader financial services industry must evolve to meet their unique needs and preferences.
By combining strategic insight with an awareness of individual needs, financial advisors can drive meaningful transformation grounded in trust, empowerment, and connection.
