Women face readiness gap in 124 trillion wealth transfer

A colossal financial transition is currently unfolding globally, positioning women as the primary beneficiaries of a projected wealth shift. According to consulting firm Cerulli Associates, an estimated $124 trillion is set to change hands through 2048. Yet, despite this incoming capital, a profound readiness gap threatens to leave many unequipped for the responsibility.

The mechanics of this financial pivot involve complex demographic realities. Research cited by EY notes that wealth does not move exclusively in a straightforward intergenerational line from older parents to younger children. Instead, a significant portion follows a horizontal or T-shaped path within the same generation first. Cerulli Associates estimates that roughly $54 trillion of the total transfer will pass initially through inter-spousal transfers to widows, with more than 95% of those funds directed to women. Forecasts by McKinsey indicate this initial horizontal movement will help nearly double female-controlled assets to $34 trillion — representing about 38% of total U.S. Assets — by 2030, up from $18 trillion, or 34%, in 2023. Additional analysis by EY highlights that Baby Boomer inheritors could receive up to half of global wealth transfers over coming decades.

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Despite knowing a financial windfall is approaching, psychological and structural barriers remain formidable. A 2025 survey by Citizens involving 1,500 adults revealed that 84% of women lacked confidence in their ability to manage an inheritance or financial windfall, compared to 73% of men. Furthermore, 45% of women reported feeling confused or overwhelmed by personal wealth management, contrasted with just 27% of men.

"In the great wealth transfer, a large part includes a dialogue about women"

Ami Doshi, director of business development at Hightower Signature Wealth, via USA Today

Doshi noted that women generally outlive men, leading to wealth moving to the spouse first and then generationally to daughters, which emphasizes the existing readiness gap where many do not feel confident about decisions surrounding wealth. Doshi added that older widows were frequently raised in an era where women took a backseat to men in money management decisions.

This historical exclusion extends directly into the advisory sphere. Financial professionals have traditionally focused their engagement on male heads of households rather than the entire family unit. According to Doshi, advisers frequently engage with the husband in a household aged 65 and older, leaving surviving spouses unaware that they are even considered clients when bereavement occurs. Consequently, seven out of 10 widows ultimately leave to find a new adviser who can meet them where they are.

The friction points extend beyond advisory relationships into the operational burden of estate administration. Studies conducted in Canada and the UK indicate that women are frequently appointed as executors and shoulder the administrative responsibilities of closing estates. Research by Canadian platform Willful found that 53% of Canadians name a woman as an estate executor compared to 47% who name a man. A YouGov survey cited by UK law firm Bennett Smith found that 56% of participating women completed estate administration work themselves, versus 43% of men.

Alexandra Mysoor, co-founder and chief executive of estate settlement platform Alix, emphasized the sheer toll of these duties.

"Administering an estate, itself, is a huge task, much less doing so while grieving"

Alexandra Mysoor, co-founder and chief executive of Alix, via USA Today

Mysoor noted that settling a single estate took months of intensive labor, prompting the creation of platforms designed to assist individuals through major liquidity events.

Wealth management firms face their own retention hurdles during this period. Data from the 2025 EY Global Wealth Research Report, which surveyed nearly 3,600 clients across 30 geographies via market research consultancy Savanta between October 30th and December 24th, 2024, shows that Boomer inheritors are significantly less likely to retain their family's existing wealth manager than younger demographics. Only 66% of Boomers plan to stay with their current advisor, compared to 82% of Gen X and 88% of Millennials. 25% of Boomers expressed an intent to switch advisors, compared to 14% of Gen X and 10% of Millennials.

Amid market volatility, inflation, and political instability, anxiety surrounding wealth preservation has climbed. EY data indicates that 45% of clients view inheritance planning as increasingly complex, a rise from 31% recorded two years prior. Simultaneously, 65% of clients deem estate transition preparation very or extremely important, even though 50% feel their families remain underprepared.

Advisers and industry specialists recommend active inclusion strategies, such as conducting family planning meetings that engage both partners equally rather than focusing solely on the primary respondent. Broader shifts in philanthropic priorities are also anticipated, as studies demonstrate that female wealth holders frequently prioritize causes related to education, healthcare, and poverty alleviation.

As the multi-trillion-dollar transition progresses toward its projected timeline through 2048, financial institutions and advisory networks face mounting pressure to adapt their engagement models and bridge the advisory divide before significant asset outflows materialize.