Good news for Gen Z’s and Millennials! And perhaps for community banks.
According to a Citizen’s Bank survey, the next 20 years will feature an unprecedented handover of wealth in the United States. With the Great Wealth Transfer already underway, baby boomers are bequeathing an historic $124 trillion in personal and business assets to younger generations. “Half of Gen Z and Millennials in the U.S. expect to receive an inheritance. A quarter of them anticipate acquiring $500,000 or more, and a significant number of these beneficiaries are women. In fact, by 2030, women will control $34 trillion in investable assets — three times the quantity they possessed at the start of the current decade.”
Wow.
But, also according to the survey, women are not as comfortable managing money as their gender counterparts. Nearly half of the women surveyed reported feeling overwhelmed or confused about managing this wealth. A staggering 84% lack confidence in handling a windfall, while 90% want to work with a financial advisor to address major life goals: saving for retirement, growing savings, paying down debt, preparing for a big purchase, and estate planning.
For community banks, this is more than a trend—it’s a strategic opportunity. After all, community bank relationships are built on trust and personalized services, including, of course, financial guidance. By meeting women’s clear desire for a personalized education in money management, community banks can both serve and benefit from this historic wealth shift.
Why Women Need Help—and Want It
Survey after survey underscores a confidence and experience gap when women inherit significant assets. While they often outpace men in longevity and wealth accumulation, they are far more likely to report unfamiliarity with investment accounts (49% vs. 67% of men) or lack an estate plan.1 Meanwhile, as assets transfer, women are seeking more than transactions—they want understanding, education, and partnership.
This aligns with a broader shift in wealth management: women are about securing their family's future — through education, charitable giving, longevity planning — and appreciate advisors who listen and adapt accordingly. They prefer relationship-oriented, values-driven advice over product-push sales tactics: just the kind of “product,” that community banks are known for.
Community Banks Can Fill the Gap
- Become trusted educators. Community banks are well-placed to go beyond traditional services. Hosting workshops or webinars on estate planning, refinancing, debt reduction, or preparing for major purchases gives women clarity and confidence. These forums also signal empathy, not sales pressure.
- Offer personalized one-on-one planning. Encouraging women to meet with advisors — whether to optimize retirement savings, pay off a home, or craft an estate plan — can lead to tailored action plans that serve both financial and personal goals.
- Create value-driven financial products. Market-fit offerings—like low-rate HELOCs for home updates, value-based investment options, or legacy planning tools—can directly tie into women's stated priorities (saving, reducing debt, preparing for purchases, and estate management).
- Communicate with empathy and respect. All marketing campaigns and engagement should celebrate the milestone of controlling generational wealth, while acknowledging how daunting it can feel.
A community bank that positions itself as a trusted partner can benefit in multiple ways:
- Increased assets under management: By supporting investment and savings strategies, community banks can grow deposits and assets.
- Enhanced customer retention: Women who feel supported and understood by their bank are more likely to stay long-term—and invite referrals from friends and family.
- Broader engagement across the customer base: Advisory services draw in more than just affluent clients—estate planning and financial education are of value to individuals across the wealth spectrum.
A Forward-Looking Strategy
To thrive in this shifting landscape, community banks should:
- Train advisors to be aware of women's financial confidence levels, preferences, and values.
- Tailor communications—ensure that marketing reflects emotional intelligence, clarity, and relevance to life goals.
- Invest in advisor outreach through online and in-person educational events.
- Leverage technology to empower women. Online financial tools should be intuitive and aligned with educational goals, not just wealth management.
A Win-Win for Women and Community Banks
When community banks step up with empathy and expertise, they become more than just financial institutions—they become trusted partners in an individual’s financial journey. As hundreds of billions—soon trillions—move into the hands of women and younger generations who will undoubtedly be seeking financial guidance, banks have a real chance to support them not just with products, but with personalized advice tied to life goals. Meanwhile, banks are earning not just assets, but loyalty and trust—deepening relationships that will grow from generation to generation.
Bank Marketing Center
We’re Bank Marketing Center, the leading, subscription-based provider of automated marketing services to community banks. Our goal is to help bank marketers with topical, compelling communication with customers that builds trust, relationships, and revenue. And we do this through automating critical bank marketing functions, such as content creation, social media management and digital asset management, as well as regulatory and brand compliance.
We also want to share what we know – and learn along the way – with all our community banking friends. Whether it’s the latest on AI technology, suggestions on how to attract and retain top talent, or the importance of data protection, we’re here to make bank marketing the best that it can be.
Want to learn more about what we can do for your community bank and your marketing efforts? You can start by visiting bankmarketingcenter.com. Then, feel free to contact me directly by phone at 678-528-6688 or via email at nreynolds@bankmarketingcenter.com. As always, I welcome your thoughts.
1CAIA Association. The Great Wealth Transfer. An Opportunity for Female Financial Advisors. April 2025.