The Great Wealth Transfer

Australia is on the cusp of the biggest intergenerational shift in its history. Over the next decade‑and‑a‑half an estimated $4.9 trillion of assets including homes, businesses, superannuation, investments and other holdings – will pass from Baby Boomers to their children and grandchildren. For many families this is both an opportunity and a risk. The way wealth is transferred will determine if value, relationships and peace of mind are preserved or lost.

Fragmentation of portfolios

Large family portfolios will be split among multiple beneficiaries. That typically increases the number of accounts with smaller balances and different needs. Without careful planning, fees, taxes and poor investment choices can erode value.

Different priorities for the next generation

Next generations often care more about Environmental, Social, and Governance principles, digital access, flexible wealth solutions and alternative investments than their parents. Recognising this, our Advisers take the time to understand what matters most to rising generations – whether that’s aligning investments with their values or introducing scalable advice models tailored to their stage of life.

Trust is the core asset

Trust built with the current generation is priceless, although it doesn’t automatically pass to future generations. Studies show HNW clients are very likely to recommend their adviser to their children, yet recommendation alone doesn’t guarantee continuity. Advisers and families must actively transfer the relationship.

Preparing for success involves starting early and being intentional with conversations about wealth transfer now rather than waiting for an estate event. Your Advisers should be there to support you with targeted services that suit your needs and those of your next generation, for example facilitating family meetings, maintaining your high‑touch approach while offering an efficient portfolio service or lower‑touch stream for your children. Governance documentation is critical with clear Wills, Enduring Powers of Attorney, review of Trust Deeds and a documented wealth‑transfer plan to reduce uncertainty and disputes. Family planning sessions can help preserve more than just the family’s financial capital by creating a forum to articulate financial values, philanthropic intentions, and expectations to guide smoother transitions.

Some of the tools which we have seen support clients when navigating the transfer of wealth include:

Wealth mapping: involves identifying the assets likely to transfer and who to.

Inviting the rising generation in: holding informal sessions so everyone understands the family’s financial picture, where appropriate.

Become well organised: avoiding needless fragmentation by consolidating assets where sensible. This might involve the use of discretionary trusts, living inheritances, pooled investments or other family structures where appropriate.

Agree on roles and rules: setting out a decision‑making framework, guidelines for accessing income/capital and a dispute resolution process.

At Hewison Private Wealth, we’ve been guiding families through life’s financial complexities for 40 years. Our advisers are well-versed in designing multigenerational strategies that are flexible, values-aligned, and deeply personal. Whether you’re preparing to transfer wealth or want to ensure your legacy is preserved across generations, we’re here to support every conversation ensuring your family’s future is shaped with clarity, care and confidence.

For those acting now, the wealth transfer is less a threat and more a once‑in‑a‑generation opportunity.