What You Need to Know About the Great Wealth Transfer

Not a Simple Yes or No

Surveys suggest the answer is complicated. Ninety-four percent of women say their economic power is underestimated, yet far fewer recognize how quickly the wealth transfer is happening. Just 42% of women surveyed said they believe women will be the primary beneficiaries of the coming wealth transfer, according to Ellevest.

Research from UBS has found that many women step back from long-term financial decisions earlier in life, only to take them on later under more difficult circumstances.

Across the country, financial advisors say more women are unexpectedly taking charge of family finances, often without preparation, as financial decisions have traditionally been handled by a male spouse or parent. This shift can leave even capable professionals feeling unprepared.

Kathleen Burns Kingsbury, principal at KBK Wealth Connection, is also a financial psychologist who studies how women approach money. She believes many financial institutions aren’t taking the potential of women’s financial power seriously.

“If you think the She-economy is a fad, think again,” Kingsbury wrote in a LinkedIn post. “Instead of ignoring the needs of this economically powerful group, it's time to embrace them because they want advisors to educate and guide them."

She says many women are stepping into financial leadership roles after years of being removed from day-to-day decision-making — not because they lacked ability, but because they were never expected to lead.

Yet the issue may never have been ability. It may have been access.

“It’s not that women lack confidence,” Krawcheck told Wall Street Week. “It’s that they haven’t had the money.”

When they do, the difference is striking. Ellevest research shows women’s confidence with money rises sharply when they receive or expect to receive wealth, climbing to more than 80%.

In other words, confidence isn’t the starting point. It’s the result.

Still, gaps remain. Only 38% of women say they have a financial advisor to help them navigate a wealth transfer, and about half say they know what to do with inherited money, compared with 72% of men.

That combination of rising responsibilities and uneven preparation will shape how families navigate the transition. As many women step into this role, they move from informed participant to responsible decision-maker — a shift that can feel abrupt, yet also represents a significant opportunity.

What works, advisors say, isn’t that complicated, but it’s often ignored until it matters. Let’s map out some of the most important steps to help you get there.

• The first is often the hardest: starting the conversation. Waiting until a crisis, such as death or a sudden transition, often leaves little time to ask basic questions. Families who talk early about finances, even in broad terms, are better positioned when roles change.
• Understanding the full financial picture is critical. That means more than knowing there is a will. It means knowing where accounts are held, who manages them, what debts exist and how assets are structured. Organization, more than expertise, is often what reduces stress in the early stages of a transition.
• Relationships matter as much as information. Meeting financial advisors, attorneys and accountants before they are needed can make a significant difference. Decisions made under pressure are often reactive. Decisions made with trusted guidance are more likely to be thoughtful and aligned with long-term goals.
• Slow down. Receiving an inheritance or taking over financial responsibility can create pressure to act quickly. But many experts recommend a deliberate approach that can prevent costly mistakes and build confidence over time. Ultimately, the shift in wealth is not just financial. It is personal.

And with women poised to control so much wealth, Ellevest suggests that the transfer could produce seismic economic changes. They predict that women will:

• Give away a higher percentage of their wealth, particularly as their income rises, benefitting many nonprofits that support women and girls.
• Use the wealth to start more businesses, and hire more women to good-paying jobs.
• Align their investments with their values, including investing in other women.

A prime example: Bumble dating app founder Whitney Wolfe Herd, whose company is now worth more than $1 billion, also  launched Bumble Fund to invest in early-stage ventures founded and led by women and minorities. “Our aim is to be another voice … encouraging others to take part in bringing amazing women entrepreneurs into the heavily skewed venture capital ecosystem,” she told cnbc.com.

And research shows that improved gender parity often improves a company’s bottom line.

So, yes, the Great Wealth Transfer will often be measured in dollars. In practice, though, it also will be measured by the decisions that will affect families and business immediately, as well as generations to come.

For a growing number of families, those decisions will be made by women who, ready or not, are now in charge. Let’s see what they do next.

5 Key Takeaways

• Much of the Great Wealth Transfer will first go to surviving spouses, placing women in control of trillions of dollars. 
• Many women are stepping into financial leadership roles without prior experience managing family wealth. 
• The gap isn’t confidence — it’s access, and studies show financial confidence rises quickly once women control or expect to receive wealth. 
• Women in positions of financial power are more likely to distribute their wealth to nonprofits and to invest in other women.
• Families who communicate and seek trusted guidance are more likely to deal with wealth transitions successfully.