Trillions of dollars are about to change hands, and many of the professionals who would normally guide that movement are heading for the exits. That mismatch sits at the center of recent comments from Michael Gold, founder and CEO of Gold Family Wealth in Westport, Connecticut.
The numbers behind his concern are large. Close to three-quarters of privately held business owners expect to transition or exit within the next decade, a shift tied to an estimated $10 to $14 trillion in potential exit-related wealth. The so-called Great Wealth Transfer is expected to peak around 2026, with $84 to $120 trillion projected to move between generations over the next two decades.
Fewer Hands on Deck
Nearly half of all financial advisors plan to retire by 2035. Gold describes the result as a structural gap arriving just when wealthy families most need experienced judgment and coordination.
Families with $30 million or more face decisions that rarely come with second chances. Selling a company, restructuring trusts, or bringing adult children into governance all carry lasting consequences. Michael Gold Westport argues that these moments call for what he terms “anticipatory judgment,” meaning the ability to help a family see every viable path and its tradeoffs before anything becomes permanent.
Responses Across the Industry
Firms are adapting in different ways. Some are hiring younger advisors to connect with Millennial and Gen Z heirs, while others build multigenerational teams designed to keep clients through each handoff. More advisory firms are also setting up dedicated ultra-high-net-worth practices with operating models built for complexity.
The Westport firm has taken its own route, offering human-first family office services to families with $20 million to $150 million in net worth. Specialists join on a fractional basis, which lets the firm assemble expertise around each household’s needs.
Gold’s broader point is that capital will keep moving whether or not advisors are ready. “Access to capital is no longer limited; access to good judgment is,” he says. For families in Westport and elsewhere facing a liquidity event or an inheritance, finding that judgment may prove harder than finding the money. See related link for additional information.
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