How to Retain Clients During The Great Wealth Transfer — Susan Schoenfeld

Talking Trends
4 min readJul 10, 2023


Photo by Benjamin Ranger on Unsplash

Susan R. Schoenfeld, CEO and Founder of Wealth Legacy Advisors LLC serves as a ‘thought partner’ to families of wealth through personal attention and human spirit. Susan is an award-winning Thought Leader; she provides guidance on legacy, next-generation, stewardship, governance, leadership succession, and philanthropy.

Susan was featured in the Family Wealth Report in her new article co-authored with Carol R. Kaufman: How to Retain Clients During The Great Wealth Transfer, published on May 17, 2023. You can read it HERE.

The largest generational wealth transfer in US history has already begun.

Most research shows that fewer than 20% of adult children of affluent clients will remain with their parents’ financial advisor after inheriting their parents’ wealth, because they have very different expectations of how they want advisory services delivered to them.

Trusted advisors to HNW baby boomers, such as financial advisors, wealth managers, and estate planning attorneys, recognize that retaining the next generation of clients is critical for the long-term success of their business. The issue is how to best accomplish this.

The most important pain points for trusted advisors to consider in retaining next-gen offspring as clients aren’t investment matters. Rather, they’re the “soft” or human issues, including values, communication and demographic diversity, which actually turn out to be the “hardest” obstacles to navigate.

Read the full article HERE to learn how to better understand these pain points and develop strategies to address them, in order for you to build strong relationships with the younger generations of your clients, securing the long-term success of your business.

Susan Schoenfeld, a public speaker & thought partner to families of wealth and their advisors, is an award-winning thought leader. Susan’s switch from successful estate planning attorney and CPA to a trusted family advisor and thought-partner was inspired by families of wealth asking her searching questions beyond estate tax planning. As a conflict-free advisor who provides no investment, tax, or legal advice and sells no product, Susan shares her insights directly with wealthy families and with financial services experts. She is active as a keynote speaker and a leader of break-out sessions and workshops at conferences throughout the U.S.

Connect with me on LinkedIn



Talking Trends

Talking trends is a platform for people with a story to tell.