The largest wealth transfer in Canadian history is underway. By 2026, Canadian women are expected to inherit approximately $900 billion in assets, putting them in a position to control nearly half of the country’s accumulated wealth. For financial advisors, this represents more than a transfer of assets. It represents a transfer of relationships. And many advisors are not prepared for what happens next.
Why So Many Advisors Are Getting Left Behind
Many women inheriting wealth are doing so without having been directly involved in the financial decisions that built it.
They may have attended meetings, been aware of the family’s finances, or trusted their spouse or parent to manage the relationship. But awareness is not the same as having a relationship with the advisor.
That distinction becomes critical when wealth transfers.
A woman may suddenly find herself meeting an advisor for the first time while dealing with the loss of a spouse or parent, making significant financial decisions, and trying to understand a relationship that was built around someone else.
The result is a major retention challenge for advisors.
Around 70% of women who inherit wealth are expected to change advisors. The reason is not necessarily poor investment performance or inadequate advice. In many cases, the relationship simply was never established with the person who ultimately inherits the assets.
The advisor knew the client.
But the advisor did not know the family.
What Advisors Should Do Now
The advisors positioned to retain these relationships are not waiting for the wealth to transfer.
They are engaging both partners today.
That means inviting both spouses into meaningful financial conversations, understanding their individual goals, and building relationships that extend beyond the person who currently manages the family’s finances.
Women often place significant importance on trust, communication, personal fit, and feeling understood by their advisor. Creating that relationship does not necessarily require a different investment strategy or service model.
It requires attention.
It requires inclusion.
And it requires starting the relationship before it becomes urgent.
The same principle applies to the next generation. If children are expected to eventually inherit significant assets, waiting until the transfer occurs to introduce them to the advisor creates unnecessary risk.
The wealth transfer is not something advisors need to prepare for someday.
It is already reshaping the market.
For advisors, the opportunity is to look beyond the assets they manage today and build relationships with the people who may control them tomorrow.
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