Trillions of dollars are expected to be passed down within families in the coming decades. Cerulli Associates has the following advice for advisors looking to capture the "great wealth transfer."

1. Establish Personal Connections: Forge meaningful relationships with the children of clients by understanding their unique financial goals, preferences, and concerns. 

2. Educational Initiatives: Offer financial education programs or workshops targeted at the younger generation. 

3. Digital Engagement: Utilize digital platforms to connect with younger clients, who often prefer online communication. 

4. Succession Planning Discussions: Proactively discuss succession planning and wealth transfer. Demonstrating a commitment to the family's long-term financial health can strengthen the advisor-client relationship.

5. Customized Services: Tailor financial strategies to align with the specific needs and aspirations of the younger generation. 

6. Regular Communication: Maintain open lines of communication through regular updates, newsletters, and educational content. 

7. Multigenerational Meetings: Arrange family meetings that include older and younger generations. Those gatherings provide an opportunity to address collective financial goals, discuss estate planning, and reinforce the advisor's role in guiding the family's financial future.

By implementing those proactive measures, advisors can enhance their chances of retaining their clients' children and ensure the continuity of the advisory relationship across generations.

Financial Advisor Transitions consults advisors nationwide to explore employment transition options and to preserve and protect their practice in any transition that they make.