The program is designed to help close a gap between what Next Gen individuals expect from their wealth and the actual success advisors have in working with them.

Fidelity Institutional® has announced a program to help advisors drive deeper engagement with clients and their families, coming at a time when there’s a gap between younger investors expecting to inherit, and advisor’s success in guiding them.

The program, which is called The Decade of Generational Wealth, has been developed by the Fidelity Center for Family Engagement. It outlines eight strategic imperatives for advisors to build successful family wealth transitions. 

New Fidelity research finds that 58 per cent of Gen Y and Gen Z investors expect to inherit assets in the future but only 39 per cent of advisors say they have a successful track record of partnering with the next generation through a wealth transition. Only 46 per cent of advisors say they are successful partnering with female clients through a wealth transition.

“Our research found a disconnect between what the client of the future is expecting and what advisors are delivering,” Tobias Donath, senior vice president, Fidelity Center for Family Engagement, said. “So, our goal is to help advisors use this decade to look around the corner and proactively adapt their business.”

The program’s “Eight Strategic Imperatives” include navigating change of control with the primary decision maker; facilitating transparency and family engagement around planning; empowering women as head of households and as investors, and planning proactively for the Boomer succession in clients' businesses and the industry.

The 2021 Fidelity Investor Insights Study was conducted during the period May 15 through June 7, 2021. It surveyed a total of 1,974 investors, including 773 millionaires.