Women, especially widows, are poised to inherit trillions of dollars over the next few decades.

Widowed women in the Baby Boomer generation, or those generally born between 1946 and 1965, are expected to inherit roughly $40 trillion between 2024 and 2048, according to Cerulli Associates.

That's roughly a third of the $124 trillion that will be transferred over the next few decades, a phenomenon dubbed the 澳洲幸运5官方开奖结果体彩网:Great Wealth Transfer.

More than half, or $21 trillion, of the money inherited by widowed women will go to 澳洲幸运5官方开奖结果体彩网:high-net-worth spouses, or those who have $5 million or more in investable assets.

Women tend to live longer than men, and with or withou𒆙t an inheritance, they ne𓃲ed to make that money last.

Women View Financial Advice Differently

With many women potentially receiving significant 澳洲幸运5官方开奖结果体彩网:windfalls in the future, 澳洲幸运5官方开奖结果体彩网:financial planners may need to shift their approach, as women may hav✱e different preferences than male clients.

Cerulli's research shows that women were more likely than men to say they value relationships when selecting an advisor. For example, most high-net-worth practices report that women are at least involved in client household financial planning, which makes it easier for advisors to engage with them later as widows and to increase asset retention when they inherit wealth.

“When husbands pass away before their wives, finances are understandably the last thing the surviving spouse wants to think about,” Chayce Horton, a Cerulli senior analyst, said. “This is why Cerulli recommends🐽 establishing relationships with all members of the client household as early as possible in the client lifecycle.”

Women also may have different ideas about what do with their money. Cerulli found that high-net-worth women showed a greater preference for 澳洲幸运5官方开奖结果体彩网:philanthropy and su🧔stainability goals when compared with men.

This trend has also been shown in other data, too. A 2023 Bank of America survey found that the majority of household 澳洲幸运5官方开奖结果体彩网:charitable-giving decisions were made or influenced by women.