The largest intergenerational wealth transfer in history is underway. Datos Insights estimates that $170 trillion will shift from baby boomers to younger generations over the next two decades. For Registered Investment Advisors (RIAs), this time period is critical for determining who retains assets and who watches them walk out the door.
Advisors without strong relationships with clients’ heirs face a high likelihood of asset attrition once wealth changes hands. Younger investors expect greater transparency, intuitive digital experiences, and alignment with their personal values. These are expectations that many traditional firms struggle to meet. Without meaningful change, decades of hard-earned trust could disappear in a single generational handoff.
Heirs often begin forming opinions about their family’s wealth manager years before assets formally transfer. In many cases, technology, and not the advisor, is the first and most frequent point of engagement. SS&C Black Diamond® Wealth Solutions, recognized as a “Best-in-Class” Portfolio Management and Client Reporting Provider by Datos Insights, helps firms deepen multigenerational relationships and retain assets throughout the wealth transfer.
Digital Experiences Built for the Next Generation
Heirs to the baby boom fortune have grown up immersed in technology. They expect information to be accessible, intuitive, and available on demand, and often prefer digital engagement over traditional, in-person interactions. To earn their confidence, firms must deliver seamless digital experiences that feel modern, responsive, and user-friendly.
Black Diamond provides an immersive digital financial hub through its Client Experience Portal, enabling firms to offer:
A secure, interactive environment where clients can view their full financial picture anytime, anywhere.
A mobile app providing 24/7 access and visibility.
Real-time push notifications and one-click connections to phone, e-mail, and maps.
By establishing trust through a cohesive digital experience, firms can make a lasting impression on younger clients.
Collaboration That Starts Before the Transfer
One of the most common and costly mistakes advisors make is waiting until after the wealth transfer to engage the next generation. By then, relationships are often too weak. Firms that enable multigenerational collaboration early can build trust and relevance long before assets change hands.
With the Client Experience Portal, firms can tailor content and tools to different client segments. For multigenerational families, this includes:
Shared portal access that promotes transparency across generations
Secure document exchange between advisors, family members, and other stakeholders through the Vault
These capabilities help advisors build durable relationships that extend beyond a single generation.
One Hub for the Entire Financial Picture
Today’s clients also manage their wealth across a growing number of platforms, apps, and institutions. This fragmentation creates friction, and each additional tool increases the risk of disengagement.
To remain relevant, advisors must deliver a unified experience. With Black Diamond, firms can:
Aggregate outside accounts so clients see their complete financial picture in one place.
Integrate financial planning tools to keep long-term goals front and center.
Leverage CRM data to personalize engagement across client segments.
Clients who feel connected to their advisor’s ecosystem are less likely to look elsewhere.
The Wealth Transfer Is Already Happening. Are You Ready?
Engaging the next generation can’t wait. Younger investors demand modern digital capabilities that provide transparent and holistic insight, areas where many traditional firms may still fall short. Firms that act now will be better positioned to retain assets, strengthen relationships, and thrive through the largest wealth transfer in history.
Download the Datos Matrix Report for an objective, comprehensive analysis of Black Diamond. Then, to learn how our team can support your unique advisory firm, request a personalized demo, call 1-800-727-0605, or email info@sscblackdiamond.com today.
