14: Marketing for the Great Wealth Transfer

Seismic Sessions

In this episode of Seismic Sessions, hosts Gemma Livermore and Rachael Rowe are joined by Nitika Vyas, co-founder of Aila Money, and Jonathan Tweedie, Managing Director at RBC Brewin Dolphin, to discuss The Great Wealth Transfer. With $84 trillion set to move from Baby Boomers and The Silent Generation to heirs by 2045, this seismic shift is transforming wealth management. The discussion delves into adapting to a diverse, multi-generational client base, building trust across communities, and how digitalisation is reshaping the industry.

Show notes

Key takeaways

• Tremors:Traditionally, wealth management was reserved for high-net-worth individuals, making it expensive and inaccessible for broader communities. Trust-building relied on long-term relationships rather than the quality of expertise, limiting scalability. Regulatory challenges also hindered innovation, focusing on legacy practices rather than addressing evolving client needs.
• Epicentre: Today, trust hinges on diversity and inclusion, as wealth managers navigate a more varied client base. Historically male-dominated, the industry faces challenges at wealth transfer points, especially with younger, more diverse generations. Digitalisation is redefining the client experience, enabling personalised financial guidance via open finance platforms. These tools provide on-demand, customised solutions, expanding access to clients with smaller investments and fostering broader trust within communities.
• Aftershocks: As values shift toward ESG and ethical investing, wealth managers must build relationships earlier in clients’ financial journeys. A holistic approach that balances financial goals with societal impact is crucial. To stay relevant, firms need to evolve marketing strategies, enhance client education, and collaborate with regulators, ensuring services align with modern values and priorities.

Jump into the conversation:
[00:03:45] - Pre-digital wealth management
[00:08:20] - Digitalisation and accessibility
[00:10:30] - Self-service and personalisation
[00:14:05] - Diversity in wealth management
[00:16:50] - Trust and client-centricity
[00:20:40] - Generational trust issues with banks
[00:24:55] - The role of guidance vs. advice