The wealth transfer tsunami is coming, and financial advisors who aren’t prepared risk watching billions walk out the door. As baby boomers age, an estimated $84 trillion will change hands over the next two decades—with much of it flowing to millennials and Gen Z who have dramatically different expectations from their parents’ advisors.
Smart advisors are getting ahead of this generational shift by deploying an increasingly popular strategy: teaching Finance 101 seminars designed specifically for clients’ children and grandchildren.
“These educational initiatives serve multiple purposes,” explains Michael Liersch, head of advice and planning at Wells Fargo Wealth & Investment Management. “They establish trust with the next generation, demonstrate value beyond portfolio management, and address a genuine need for financial literacy that many young people lack despite their digital savvy.”
The approach acknowledges a stark reality: most wealth transfers result in advisor transitions. Research from Cerulli Associates indicates that more than 70% of heirs fire their parents’ financial advisor after receiving an inheritance. These educational programs aim to disrupt that pattern by building relationships early.
For Megan Gorman, founder of Checkers Financial Management in San Francisco, these sessions create organic connections with clients’ children. “When I’m teaching basics like compound interest or debt management, I’m not selling anything. I’m providing value and establishing credibility,” Gorman told me during a recent blockchain conference. “The relationship develops naturally from there.”
The format of these seminars varies widely. Some advisors host formal classroom-style workshops covering budgeting, saving, and investing fundamentals. Others create more casual settings—virtual happy hours or weekend brunches—where financial concepts emerge through conversation rather than lecture.
Technology plays a crucial role in making these sessions relevant. Many advisors incorporate interactive tools, mobile apps, and gamification elements that resonate with digitally-native generations. Some have even developed custom simulation platforms where participants can practice investment decisions with virtual money.
“The key is meeting them where they are,” says Kamila Elliott, CFP and CEO of Collective Wealth Partners. “That might mean discussing cryptocurrency alongside traditional investments or framing retirement planning in terms of financial independence rather than a distant retirement age.”
The content often expands beyond investments to include topics like student loan management, homebuying basics, and entrepreneurship—issues immediately relevant to younger generations. This practical approach distinguishes modern financial literacy efforts from previous generations’ focus on abstract portfolio theory.
Advisors report these educational initiatives yield benefits beyond client retention. Many note that parents and grandparents deeply appreciate these efforts, sometimes strengthening the primary client relationship. Additionally, the programs often reveal family dynamics around money that help advisors better serve the entire family system.
The strategy has proven particularly effective with Gen Z, whose members display surprising receptiveness to financial guidance despite their reputation for digital self-sufficiency. According to a recent Investopedia survey, 45% of Gen Z respondents said they want to learn about money management from financial professionals—higher than any other generation.
“There’s a myth that younger generations only want app-based solutions,” notes Devin Pope, CFP at Albion Financial Group. “In reality, they value human expertise when it’s delivered authentically and respects their existing knowledge.”
For advisors considering implementing such programs, experts recommend starting small. Rather than launching comprehensive academies, begin with targeted sessions addressing specific needs expressed by clients regarding their children. The content should avoid industry jargon and connect financial concepts to real-world scenarios relevant to younger audiences.
Timing matters too. Major life transitions—college graduation, first professional job, marriage—create natural openings for financial education. Advisors who position themselves as resources during these moments often find receptive audiences.
The most successful programs maintain engagement through consistent follow-up. Rather than one-off workshops, effective advisors create ongoing touchpoints through newsletters, social media groups, or quarterly check-ins specifically for next-generation family members.
As wealth management evolves beyond investment management toward holistic financial planning, these educational initiatives represent a powerful differentiator. They demonstrate value in tangible ways while addressing the legitimate financial literacy gap facing many young Americans.
For advisors concerned about the coming generational wealth transfer, these educational programs offer a compelling solution. By investing in relationships with clients’ children today, they’re positioning themselves to maintain those assets tomorrow—while providing a valuable service that benefits families across generations.
