Sail the Great Trust Gap
This blog distills insights from the latest episode of the Visionary Advisor podcast, where Total Family CEO Alex Kirby sat down with P.V. Narayan, Head of Banking for the Americas at Capgemini.
Together, they unpacked Capgemini’s 2025 World Wealth Report: “Sail the Great Wealth Transfer.” The conversation explores common misconceptions about the generational wealth shift, what the data actually reveals, and how advisors can reposition to meet the expectations of next-gen HNW and UHNW clients.
Read on for key insights and action steps drawn directly from that dialogue.
Advisors and wealth management firms across the globe are racing to restructure their offerings, hoping to seize a share of the largest intergenerational wealth transfer the industry has ever seen. Over the next two decades, an estimated $83.5 trillion in wealth will shift to a new generation—yet 81% of next-gen high-net-worth individuals say they’ll switch advisors shortly after inheriting.
(Source: 2025 Capgemini World Wealth Report)
That should be a wake-up call.
The industry isn’t blind to this shift.
Most firms understand the handoff is coming.
Where they differ is in how they’re preparing—some are adapting for continuity, while others are still planning for a clean asset transfer.
At Total Family, one insight has become abundantly clear:
This moment is not just about wealth. It’s about trust.
Trust between a client and their advisor.
Trust between heirs and the advisor.
Trust between the advisor and their firm.
Trust between the client and the firm itself.
At the heart of this historic wealth transfer is a trust gap financial services has never faced before.
(Though to be fair, the industry isn’t that old.)
And if trust doesn’t transfer with the wealth,
neither will the relationship.
This isn’t just about technology—
it’s about expectation.
“Digital is all these people know,” P.V. Narayan from Capgemini told us.
For next-gen clients, seamless tech isn’t a value-add—
it’s the baseline.
For digitally native clients, trust often starts with a gut check:
If you can’t get the basics right—how can you be trusted with the complex?
Clunky tech doesn’t just frustrate–
it breaks credibility.
When the experience doesn’t meet their baseline,
many won’t stick around long enough to hear your credentials.
That difference in expectation is backed by the numbers:
72% of Next-Gen HNWIs prefer digital channels like apps and mobile portals
Only 25% of Baby Boomers say the same
58% of Boomers still favor in-person interactions, compared to just 28% of the rising generation
Where Expectations Break Down
The channel isn’t just how clients communicate—
it’s a reflection of what they value.
And when those values aren’t reflected in the advisory experience,
they leave.
But these signals aren’t just digital.
Rising-gen clients are also watching how—and if—you show up for the people closest to them.
Building early relationships with spouses and children isn’t optional anymore.
It’s the foundation of multi-generational trust.
The numbers back this up–
But they point to something deeper than digital preference.
It’s about a growing disconnect between what next-gen clients expect,
And what many advisory firms are positioned to deliver.
According to Capgemini:
46% of Next-Gen HNWIs cite lack of a strong digital experience as a top reason they would leave their parents’ advisor
33% say their firm doesn’t offer the investment products they’re interested in (think: private equity, sustainable portfolios, or impact vehicles)
25% feel the value-added services are too limited
This isn’t just a service gap.
It’s a signal problem.
The next generation isn’t evaluating advisors based on tenure or track record alone.
They’re watching how firms communicate,
the tools they use,
and how seamless the experience feels—
looking for signs that their values are understood and respected.
As P.V. shared in our conversation:
“Advisors don’t just need new products.
They need a new posture—one that says: I understand who you are and what you want.”
That posture starts with empathy,
but it must be backed by infrastructure:
A modern client experience.
Meaningful, flexible investment options.
A plan that supports identity, impact, and autonomy—not just accumulation.
Advisor Course Corrections
So how do we bridge the trust gap?
It starts with rethinking the role of the advisor—
not as a product expert, but as a guide, translator, and relationship builder.
Here’s what forward-thinking advisors are doing today to meet the moment:
1. Get Real About Your Firm’s Capabilities
If you’re building on shaky ground, trust won’t hold.
You can't offer what you don't have.
And you can’t build trust on promises your firm can’t deliver.
As P.V. Narayan shared on Visionary Advisor,
Advisors must be honest about what their firm can actually do–and what’s just talk.
Start with the hard questions:
What digital experiences actually exist for clients today?
What’s on the roadmap—and is there a roadmap?
Are buzzwords being thrown around to buy time, or is there meaningful change in motion?
This isn’t about being negative.
It’s about knowing where you stand–
so you can build from reality, not illusion.
2. Think Small. Iterate Fast.
Waiting for perfect is the fastest way to fall behind.
Don’t wait for a grand platform launch or sweeping innovation.
Those moments rarely arrive—and when they do, they often flop.
Instead:
Be lean.
Be curious.
Build in small iterations that deliver real value to clients today.
P.V. reminded us:
Innovation doesn’t come from big rollouts.
It comes from mindset shifts–inside the firm and at the advisor level.
The firms that win?
They’re the ones who evolve consistently, not the ones who wait for perfect.
3. Use Tech to Strengthen Human Connection
Being high-tech only matters if you stay high-touch.
Tech isn’t here to replace you.
It’s here to amplify your presence.
Use AI to log conversations, spot patterns, and remember what matters—across generations.
Don’t just serve the client—build real relationships with their people.
Build relationships before you “need” them. Trust isn’t retroactive.
As P.V. put it:
“The human aspect of advice will never change. But empathy can’t be automated.”
4. Stay Curious. Learn Differently.
You don’t need to know everything—just enough to stay dangerous and honest.
You don’t need to be an expert in every niche of wealth management.
But you do need to know where your edge ends–
And who you trust to fill the gaps.
Be transparent with clients about your strengths
Rely on specialists and frameworks when needed
Let your curiosity guide what you pursue next—not just what’s trending
Clients don’t expect you to have all the answers.
They expect you to care enough to ask better questions.
5. Focus on the Relationship, Not Just the Return
Performance earns credibility. Relationships earn loyalty.
In a world of automated portfolios and commoditized products,
the only enduring edge is the quality of your relationships.
This generation of clients isn’t just looking for growth.
They’re looking for alignment–
With their values, vision and legacy.
If you want to earn trust across generations,
don’t just manage the money–
steward the story.
The Opportunity Ahead
Trust isn’t a given—it’s a practice.
The advisors who win the next generation won’t be the loudest or flashiest.
They’ll be the ones who show up with clarity, humility,
and the tools to meet clients where they are.
The gap is real.
But so is the opportunity.
Want to hear the full conversation?
Listen to the episode: “Sail the Great Wealth Transfer” featuring P.V. Narayan on the Visionary Advisor Podcast—now streaming on all major platforms.
While you're there, explore more episodes featuring insights from top voices across the wealth advisory world—each one focused on helping advisors lead families beyond financial wealth.
Download the full Capgemini Research Report here.
