Envestnet's concept of the Intelligent Financial Life™ represents a shift in
the way we approach financial management. Rather than simply providing
investment solutions or asset allocation strategies, Envestnet seeks to
enable a more personalized and holistic financial experience for clients.
By leveraging technology, intelligence, and solutions, Envestnet aims
to help advisors and through them, their clients make more informed
decisions about their finances, manage their wealth more effectively, and
ultimately achieve their financial goals. This white paper will explore how
Envestnet is using personalization at scale to help deliver on this vision of
the Intelligent Financial Life and how asset managers, advisors, and their
firms can adopt these strategies to potentially better serve their existing
and future clients.
The Greatest Generational Wealth Transfer in
U.S. History
The 2021 report from Cerulli Associates titled "U.S. High-Net-Worth and
Ultra-High-Net-Worth Markets 2021, Evolving Wealth Demographics,"
discusses the impending transfer of wealth from Baby Boomers to their
heirs and younger generations.
This transfer of wealth from one of the largest generations ever in the
United States is expected to be massive, with estimates as high as $84.4
trillion projected to change hands through 2045. This transfer of wealth
has significant implications for the U.S. economy and for the financial
well-being of future generations. With this shift from Baby Boomers,
currently the lifeblood of the wealth management industry, to their heirs,
it will be critical for advisors to understand the needs and expectations of
Gen X, Millennial, and Gen Z children who will be inheriting this wealth.
Generational Windfall
Cerulli has raised estimates for U.S. wealth transfers
over the next 25 years
To Heirs
2011 to 2035 2018 to 2042 2021 to 2045
Bloomberg Source: Cerulli Associates
To Philanthropy
$90T
80
70
60
50
40
30
20
10
0
$84.4T
projected to change hands
through 2045
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