Generational Wealth in Canada: Preparing for the Largest Transfer in History

Canada is entering one of the most significant wealth transitions in its history. Over the next decade, it is estimated that $1 trillion CAD in wealth will be passed down from baby boomers to their children and grandchildren. This shift is not only financial but deeply cultural: next-generation inheritors are redefining the meaning of wealth, seeking clarity, alignment with values, and an enduring sense of legacy.

This report examines how the great transfer of wealth is reshaping advisory expectations and why a stewardship-driven approach — blending refinement with humanity — is essential.

The Scale of the Transition

• According to the Canadian Imperial Bank of Commerce (CIBC), more than $1 trillion CAD in wealth is expected to transfer across generations in Canada between 2020–2030.

• This shift is fueled by Canada’s aging population: by 2030, nearly 1 in 4 Canadians will be over 65, accelerating estate transfers and succession planning (Statistics Canada, 2024).

Implication: Firms that remain transactional will struggle to retain assets. Stewardship rooted in continuity and legacy planning will become the differentiator.

Next-Gen Expectations

• Values Alignment: Surveys show that 75% of millennials believe their investments should reflect their social and environmental values (RBC Wealth Management, 2024).

• Philanthropy & Purpose: Younger inheritors are twice as likely to prioritize philanthropy, impact investing, and purpose-driven financial planning compared to their parents.

• Digital + Human: While comfortable with digital platforms, next-gen clients still place high value on trusted, human-first relationships that help them navigate complexity.

Implication: The new generation doesn’t want just “returns.” They want refined clarity, bespoke design, and a coach for legacy.

Risks to Wealth Retention

• A global EY study shows that 70% of wealth is lost by the second generation and 90% by the third.

• Causes include lack of communication, failure to establish governance structures, and absence of shared family vision.

Implication: Advisors who fail to foster legacy conversations risk losing not just assets, but multi-generational trust.

The Opportunity for Luxury Wealth Stewardship™

Stansfield Wealth Group is positioned uniquely to address this shift through:

• Legacy Coaching™: Helping families articulate values, priorities, and continuity strategies.

• Wealth Atelier™: Designing bespoke plans that reflect not just assets, but the story behind them.

• Legacy Concierge™: Offering trusted guidance in every major decision, from philanthropy to succession.

Next Chapter. Refined. becomes more than a tagline — it is the promise that wealth will not dissipate, but will be shaped into something enduring and beautiful.

Conclusion

The coming decade represents the greatest test — and the greatest opportunity — for wealth management in Canada.

As $1 trillion CAD changes hands, the firms that will stand apart are not those that chase transactions, but those that refine legacies. For families seeking continuity, clarity, and purpose, Luxury Wealth Stewardship™ is not optional. It is essential.