The era of the “Great Wealth Transfer” is here, and its impact cannot be overstated. With trillions of dollars in motion, client attrition is a real risk, yet opportunity abounds for firms prepared to act. Success now depends not on statistics, but on clear strategies that engage families, deliver digital-first experiences, and earn loyalty across generations.
That’s where technology becomes the differentiator. By unifying data, streamlining workflows, and creating meaningful client touchpoints, wealth managers can transform this move of assets across generations from a threat into an opportunity to strengthen relationships.
The Stakes and the Strategic Opportunity
Referred to as “Peak 65,” 2024 marked the highest number of Americans turning 65 in history, accelerating the urgency of this intergenerational shift. The essential question for wealth management and trust firms has now become:
How can you retain client assets and gain the allegiance of heirs entering the wealth ecosystem?
The whitepaper, The Great Wealth Transfer is Underway. Are You Onboard?, spotlights three critical strategies wealth managers must adopt:
- Engage Early with Heirs – Secure continuity by building connections before the transition occurs.
- Align with New Values – Millennials and Gen Z investors value transparency, personalization, and digital-first service.
- Support Multigenerational Relationships – By casting a wider net across families, advisors can deepen loyalty across generations.
These strategies all depend on robust technological capabilities to succeed.
Why Technology Must Be at the Core
Modern wealth transfer supports the advisor-client relationship through systems that deliver seamless, compliant, and personalized experiences. Whether managing joint estate accounts or delivering unified reporting to diverse age groups, firms need a technology partner whose solutions are designed for adaptability and visibility.
In August, SS&C officially consolidated its wealth tech, merging legacy brands into SS&C Black Diamond® Wealth Solutions. This evolution created a single-source offering that centralizes portfolio management, trust and retirement services, CRM, compliance, business intelligence, and more. Black Diamond now supports over 800,000 active users across more than 3,000 firms, managing $3.6 trillion in assets, underscoring both its industry reach and trust.
For senior leadership at wealth firms navigating the wealth transfer, this unified solution offers a compelling business proposition: no system silos, no disjointed workflows, just comprehensive technology.
Business-Critical Capabilities Built for Today
Black Diamond’s unified capabilities represent more than incremental improvements. They reflect the foundational shift firms must make to thrive in the era of the “Great Wealth Transfer”, including:
- Bridging generational gaps with digital transparency through a branded client portal, secure messaging, and shared family access that foster trust and engagement across heirs.
- Streamlining operations to create efficiency and scale with automated workflows, proposal generation, and integrated rebalancing tools that free advisors to focus on clients instead of manual processes.
- Embracing a unified technology stack that consolidates portfolio management, trust accounting, CRM, compliance, and reporting.
The firms that engage with a true technology partner to impact the advisor-client experience will protect their assets under management and secure a multigenerational future. Our team is ready to help you get there.
Ready to see what SS&C Black Diamond Wealth Solutions can do for your unique wealth management business? Visit our new website to request your personal demo, call 1-800-727-0605, or email info@sscblackdiamond.com today.
