Skip to main content
utility-drawer__close
0
Add funds
Fund 1
Fund 2
Fund 3
Fund 4
Welcome to Nuveen
Select your preferred site so we can tailor your experience.
Select Region...
  • Americas
  • Asia Pacific
  • Europe, Middle East, Africa
location select
Select Location...
  • Canada
  • Latin America
  • United States
  • Australia
  • Hong Kong
  • Japan
  • Mainland China
  • Malaysia
  • New Zealand
  • Singapore
  • South Korea
  • Taiwan
  • Thailand
  • Other
  • Austria
  • Belgium
  • Denmark
  • Finland
  • France
  • Germany
  • Ireland
  • Italy
  • Luxembourg
  • Middle East
  • Netherlands
  • Norway
  • Spain
  • Sweden
  • Switzerland
  • United Kingdom
  • Other
location select
Financial Professional
  • Institutional Investor
  • Individual Investor
  • Financial Professional
  • Global Cities REIT (GCREIT)
  • Green Capital
  • Private Capital Income Fund (PCAP)
location select
Generation n tree outline

Generation n

What advisors need to know about working with wealth inheritors

Download

Nuveen surveyed more than 500 investors — focusing on those who anticipate inheriting wealth — to better understand how advisors can engage and serve them.

Perhaps the most surprising – and encouraging – of our findings: Despite what you may have heard, wealth inheritors are eager to work with a family advisor.

What wealth inheritors want

Explore these seven attributes of the wealth inheritor persona to learn more about what these investors want to accomplish with their wealth and what they value in their relationships with their advisors.

Eager icon
Eager to accomplish multiple goals
Eager icon
Eager to accomplish multiple goals
Eager icon

Leverage client discovery and the planning process to identify, understand, and prioritize the client’s goals

87% of future wealth inheritors plan to have a financial advisor at the time of wealth transfer

 

Previous
Next
Hungry for advice icon
Hungry for financial knowledge
Hungry for advice icon
Hungry for financial knowledge
Hungry for advice icon

Showcase expertise through effective and scalable client education methods

Inheritors are actively seeking advice across a variety of sources. They want to understand the decisions that they need to make.

The extent to which inheritors actively seek education underscores their desire to be informed decision-makers.

 

Previous
Next
Keen to be involved icon
Keen to be involved in the planning process
Keen to be involved icon
Keen to be involved in the planning process
Keen to be involved icon

Create a client engagement model that lets inheritors pick their level of involvement 

Inheritors’ preference to be hands-on, informed decision makers will shape the trajectory of client engagement models. Advisors will need to develop models that allow inheritors to be involved in the process at a level that suits their interests and time constraints. Technology plays a huge role in creating these flexible, multi-channel forms of engagement.

 

Previous
Next
Trusted partners icon
Seeking fulfilling relationships with trusted partners
Trusted partners icon
Seeking fulfilling relationships with trusted partners
Trusted partners icon

Identify opportunities along the client experience journey to promote breadth and depth of services

Inheritors want a fuller relationship with their advisors. These results suggest the value of a relationship-driven approach compared with wealth builders, who tend to take a more transactional view. Inheritors are looking for holistic, well-rounded relationships with advisors with whom they can build a true partnership.

 

Previous
Next
Multiple advisors icon
Open to working with multiple advisors
Multiple advisors icon
Open to working with multiple advisors
Multiple advisors icon

Establish primacy by approaching the relationship as the orchestrator of the client’s overall wealth planning 

Advisors need to position themselves as the orchestrator over the advisor team. Overseeing the client’s overall wealth planning and coordinating the efforts of other specialists puts the advisor in position to manage the lion’s share of the assets and become indispensable.

 

Previous
Next
Family advisors icons
Inclined to work with the family's advisor
Family advisors icons
Inclined to work with the family's advisor
Family advisors icons

Get to know the children of current clients starting with social interactions and building towards financial education 

The benefit of connecting with your clients’ children before they reach young adulthood is clear. But that shouldn’t discourage advisors from reaching out to potential heirs later in life. Even if the introduction doesn’t happen until young adulthood or later, there is still a likelihood that the inheritor will continue working with the family advisor.

64% of inheritors who were introduced to their family's advisor went on to work with that advisor

 

Previous
Next
Willing to evangelize
Willing to evangelize on behalf of their advisor
Willing to evangelize
Willing to evangelize on behalf of their advisor
Willing to evangelize

Once a wealth inheritor is secured as a client, actively ask for their help in identifying and connecting with prospects

With a strong relationship, inheritors are highly likely to become evangelists for their advisors. Connecting with future inheritors can be done gradually through regular touchpoints and events designed to involve clients’ children and grandchildren. This slow and steady approach builds trust and familiarity that will pay dividends.

 

Previous
Next

The Generation n advisor program

Nuveen’s Generation n program offers insight into what new clients want from their advisor relationships, along with practical strategies for effectively attracting, cultivating and retaining clients across generations. In addition, we help you identify and amplify key areas in your advisory model that will allow you to maximize opportunities now and position your practice for what's next. By understanding what these new clients want — and intentionally incorporating a multigenerational approach into their business model — advisors can establish a powerful new client pipeline and capture their share of the $80 trillion asset opportunity.

To learn more about how to capitalize on the generational wealth opportunity, contact your Nuveen Advisor Consultant today.

Our survey of wealth inheritors

In 2022, Nuveen set out to uncover any differences in goals, attitudes and behaviors of wealth inheritors relative to wealth builders:

  • Wealth inheritors: Investors with a current or projected net worth of $1 million or more where at least 10% of net worth came from or is projected to come from an inheritance.
  • Wealth builders: Investors with a current or projected net worth of $1 million or more who did not and are not projected to receive a significant inheritance.

We surveyed more than 500 investors to understand how their preferences may influence advisors’ value propositions.

About Generation n

Advisors are continuously challenged with building new business while they nurture their existing relationships. The great news for advisors is that they don’t have to look far, nor hard, to find new clients.

All advisors are seeking to build new business while they nurture their existing clients. The great news for advisors who are looking to acquire new clients is that they don’t have to look far, nor hard, to find them.

By understanding what these new clients want – and intentionally incorporating a multi-generational approach into their business model - advisors can establish a powerful new client pipeline and capture their share of the $80 trillion asset opportunity.

Nuveen’s Generation n program offers insight into what new clients want from their advisor relationships, along with practical strategies for effectively attracting, cultivating and retaining clients across generations.

In addition, we help you identify and amplify key areas in your advisory model that will allow you to maximize opportunities now and position your practice for what’s next.

A new generation of clients awaits

Aerial view of the ocean shore

You are on the site for: Financial Professionals and Individual Investors. You can switch to the site for: Institutional Investors or Global Investors

You are about to access our website for visitors outside of the United States.

You are about to access our website for Nuveen Global Cities REIT

You are leaving the Nuveen website.

You are leaving the Nuveen website and going to the website of the MI 529 Advisor Plan, distributed by Nuveen Securities, LLC.

The Nuveen website for institutional investors is available for you.

You are about to access our website for visitors outside of the United States.

You are about to access our website for Nuveen Churchill Private Capital Income Fund (“NC - PCAP”)

Contact us
Contact us
Back to Top