An estimated CAD 1 trillion of personal wealth is set to transfer from baby boomers to their heirs between now and 2026 in Canada. This unprecedented shift is introducing a new generation of tech-savvy, alpha-driven investors—largely millennials and gen Z—who are requiring investment counsellors to rethink how they build and sustain client relationships.
As this transfer unfolds, expectations of investment counsellors are evolving rapidly. In The future of wealth advice, we explore how investment counsellors can respond with client-centric legacy planning and offerings tailored to the next generation.
- The future client: This younger generation of high net-worth investors isn’t just inheriting wealth; they’re inheriting the power to shape the economy according to their values. Their priorities are markedly different, favouring ESG, technology and even emerging asset classes like crypto.
- Client-centric legacy planning: This transition also elevates the importance of legacy planning. How trusts and succession plans are structured will play a critical role in preserving wealth and ensuring alignment with family values.
“The next generation of HNWIs is not just inheriting wealth—they’re inheriting the power to shape the economy according to their values. This new cohort of tech-savvy, alpha-driven investors is making investment counsellors rethink their business models and how they give advice.”
Sylvia Rizk
Senior Director, Business Development