As advisors know, much has been made about the potency of the great wealth transfer in dollar terms. While estimates vary, it can be agreed upon that trillions upon of trillions of dollars will matriculate from baby boomers and the “silent” generation to younger demographics over the next few years.
One of the more compelling sub-themes in that capital shift is the massive amount of wealth women are expected to inherit. By some estimates, women currently control about a third of U.S. household wealth, or $10 trillion, but that figure could triple to $30 trillion by 2030 with the great wealth transfer playing a big role.
Clearly, advisors must acknowledge that significant capital flow as it relates to female clients and prospects and tailor services accordingly, but there’s more to the story. Women, particularly those in younger demographics, aren’t waiting around for inheritances. They’re actively charting their financial courses and they’re willing to invest in education and quality advice to reach their goals.
Alone, it’s good news for the wealth management community that women want to establish relationships with advisors, but making those relationships click is about much more than the great wealth transfer.
Women Not Waiting for ‘Paydays’
The 2025 J.P. Morgan Wealth Management Investor Study features important details for advisors. Indeed, the survey, which queried 1,000 investors with at least $25,000 in assets, indicates many women are already benefiting from the great wealth transfer. Even better news is that 45% said they’re using that influx of capital to invest and another 43% said they’re using it reduce debt.
Compelling date to be sure, but what advisors need to be mindful is that millennial and Gen Z women are waiting on inheritances. Rather, the vast majority of women in those age groups said they won’t be dependent on inherited wealth.
“At the same time, women are working to build wealth on their own, with 73% reporting that having money gives them security, while 64% of Gen Z and millennial women said it gives them freedom and choices,” notes J.P. Morgan. “Of those women who are expecting to receive an inheritance, 93% said they aren’t depending on that money to reach their financial goals. Overall, three out of four women expressed confidence in their ability to achieve their financial goals.”
Advisors note something else about young women and their views on money. They’re less inclined to view finances as a taboo topic in personal relationships. If anything, they want to get the money conversation out in the open early on.
“Three out of four responding Gen Z and millennial women saying that you should talk about money within the first nine dates. By comparison, the same proportion of baby boomer women believed that conversations about money should be saved until the 10th date or later,” according to J.P. Morgan.
Sound Personal Finances Can Be Sexy
The J.P. Morgan survey wasn’t confined to women, but what’s interesting is the emphasis folks in the millennial and Gen Z cohorts are placing on money in their romantic relationships. To be clear, they’re not “gold digging,” but they are looking for partners that have their financial houses in order.
Just over two-thirds told J.P. Morgan they have a list of financial dealbreakers that could end a relationship, but an even greater percentage are looking for financial green flags.
“Even more (86%) had dealmakers – traits or qualities that would make them more interested in dating someone. For example, 55% said they were more drawn to a prospective partner with good budgeting skills. Other top dealmakers included financial independence or self-sufficiency (61%), strong knowledge of personal finance (34%) and monetary investments (31%),” concludes the bank.
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