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Wealth Solutions for the Next Generation: We Need Innovation in Wealth Tech Now | General Catalyst

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Over the next 20 years, the US will see the largest wealth transfer in history, as Baby Boomers transfer trillions to their heirs. This historic movement of assets represents a unique opportunity for disruptors in wealth management to gain share—something that is usually very hard to do, thanks to extremely sticky client relationships. As we see it, registered investment advisors (RIAs) have a higher gross retention rate than best-in-class software companies: Once an asset management firm has won a client, the client typically remains on the platform for decades. While this client retention is beneficial for incumbents, this dynamic makes it challenging for startups to quickly gain traction in the space. Until now. ‍A recent study found that 88% of heirs don’t consider their parents' financial advisors after receiving an inheritance. And given the high retention rate at wealth management firms, this turnover may provide a unique opportunity for new platforms to capture meaningful AUMs.

Wealth Solutions for the Next Generation Search The Future of Services Portfolio Copy Logo as SVG Copy Wordmark as SVG Wealth Solutions for the Next Generation Nat Levy-Westhead December 15, 2023 1 Minute Read Example H2 Example H3 Over the next 20 years, the US will see the largest wealth transfer in history , as Baby Boomers transfer trillions to their heirs. This historic movement of assets represents a unique opportunity for disruptors in wealth management to gain share—something that is usually very hard to do, thanks to extremely sticky client relationships. As we see it, registered inve

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