Millennial Women Drive 62% of Wealth Gains, Boomer Women to Inherit $124 Trillion
Surveying 2,010 U.S. high-net-worth clients, RBC Wealth Management found Millennial women cite business ownership (62%) and executive roles (43%) as top wealth drivers, outpacing male peers in investable assets, while Boomer women stand to inherit much of the $124 trillion Great Wealth Transfer. Over 90% hold active financial plans.
1. Survey Overview and Client Demographics
RBC Wealth Management surveyed 2,010 U.S. high-net-worth individuals with at least $1 million in investable assets, including 1,505 women and 505 men. The survey highlights a growing female segment whose asset levels and advisory engagement could drive future fee income.
2. Generational Wealth Drivers and Transfer
Millennial women lead wealth creation through business ownership (62%) and executive roles (43%), surpassing both Gen X and Boomer counterparts and male peers. Boomer women are poised to control the majority of the $124 trillion Great Wealth Transfer, marking a pivotal shift in asset management opportunities.
3. Advisory Engagement and Growth Opportunities
Over 90% of high-net-worth women working with advisors have active financial plans, reflecting strong demand for advisory services. This broad participation suggests potential revenue growth for RBC Wealth Management as women integrate holistic wealth goals with portfolio strategies.