Over the next two decades, $83.5 trillion in wealth will shift to a new generation. Yet 81% of next-gen high-net-worth individuals plan to switch advisors shortly after inheriting. That should be a wake-up call for every wealth management firm.

On this episode of Visionary Advisor, P.V. Narayan, Head of Banking for the Americas at Capgemini, joins Alex Kirby to discuss the firm’s latest World Wealth Report and what its data means for the future of advisory relationships.

This time, the warning is backed by numbers that are already moving

Advisors have heard predictions about the great wealth transfer for years. P.V.’s point is that this moment is different: the data shows the shift is no longer theoretical, it’s already accelerating.

“It’s not a matter of if the transfer happens. It’s when. The firms who prepare now will be the ones who thrive,” he says. Firms treating this as a future problem are already behind the firms treating it as a current one.

Next-gen clients are AI-first, and they expect to be treated that way

P.V. is direct about what has changed in client expectations: “This generation of clients is AI-first. They expect tools, access, and insights, not just advice.” A digital fluency gap between what next-gen clients expect and what many advisory firms currently offer is one of the clearest risk factors in the World Wealth Report’s findings. Firms that haven’t modernized their digital experience are giving rising-gen clients an easy reason to leave.

A new posture, not just new products

Perhaps the most important reframe in the 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.” Retaining assets through a generational transfer is not primarily a product problem. It’s a relationship problem, and it starts with advisors genuinely understanding the next generation’s priorities and communication style well before the transfer happens.

The hidden cost of ignoring heirs and spouses

P.V. and Alex explore the mindsets of rising-gen investors and the real cost of failing to build relationships with the heirs and spouses of existing clients. Firms that only maintain a relationship with the primary decision-maker are exposed the moment that relationship changes hands, which is exactly the moment 81% of next-gen inheritors say they’re ready to look elsewhere.

Competing in a post-geographic advisory world

The conversation also touches on how digital fluency and remote-first client expectations mean advisors are no longer just competing locally. Firms can now win, or lose, clients nationally and internationally, and that same dynamic applies to attracting and retaining advisor talent, not just clients.

What this means for advisors

P.V.’s conversation with Alex is essential listening for firms that want to stay ahead of this shift: why the $83.5 trillion wealth transfer is finally triggering real change across the industry, what next-gen clients want and why they’re prepared to walk if they don’t get it, the hidden cost of failing to build relationships with heirs and spouses, why digital fluency is now a baseline expectation rather than a differentiator, and why the human element still matters more than ever, even in an AI-first advisory landscape.

The firms that treat this data as an early warning, not a distant forecast, are the ones positioning themselves to retain assets and relevance for the next generation.

Listen and explore

Listen to the full episode: Capgemini’s Wealth Transfer Data: What Advisors Must Do Now, with P.V. Narayan.

Explore the Capgemini 2025 World Wealth Report: Read the full report.

Read more articles from Visionary Advisor: totalfamily.io/visionaryadvisor

This episode features Alex Kirby, CEO of Total Family, in conversation with P.V. Narayan of Capgemini.