The biggest financial hand-off in history

You’ve heard it many times before.

We are in the midst of “the great wealth transfer,” in which an estimated $54 trillion is expected to pass on to widows. Of that amount, $40 billion or more will go to widows who are baby boomers and older. That’s according to research from Cerulli Associates.

Over the next 20 to 25 years, women are expected to control an estimated $30 trillion or more in assets as wealth moves from older generations to spouses, daughters and granddaughters. Longer life expectancy, higher educational attainment and increased participation in the workforce mean women are not just inheriting wealth — they are managing it, growing it and deciding who they trust to guide them.

Women need help in making these newfound funds work for them as they navigate family-building, retirement and legacy planning. But a woman often finds that the advisor who worked with her when she was part of a couple isn’t a good fit for her in the next phase of her life. 

It’s not that the advisor provided bad advice; it’s that the relationship wasn’t built with her in mind.

In this issue of InsuranceNewsNet, which is dedicated to women and wealth, we learn about the latest research into what women want and need from their financial professional. The message is clear: Technical expertise matters, but connection, communication, and trust matter more.

Wealth is personal  — especially for women

Women are less likely than men are to focus on performance metrics and competition when it comes to money. Instead, women view money as a tool, a way to achieve security and independence, help their families and pass on their values.

This creates a powerful opportunity for advisors to have conversations about longevity, caregiving and income continuity. Women also need advisors to open discussions about protecting children and aging parents as well as funding charitable endeavors.

Women who inherit money in the great wealth transfer may have many questions for their advisors, but one question is at the heart of their concerns: Will I be all right? This is your opportunity to answer that question.

Also in this issue, we have an interview with Salene Hitchcock-Gear, president of Prudential Individual Life Insurance. An insurance industry veteran with more than 30 years of experience, Hitchcock-Gear has a unique perspective on how the industry can reach the millions of Americans who are uninsured or underinsured.

We also share the story of Lizbeth Menjivar, an up-and-coming wealth advisor from Chicago who is passionate about educating her community to attain financial literacy. Menjivar was honored by the Financial Planning Association with its 2025 Heart of Financial Planning Award for her efforts to share her knowledge with everyone from homeless youth to senior citizens.

And we take a look at the glass ceiling in the insurance and financial services industry. Women’s equality in the industry has come a long way, with nearly half of entry-level positions held by women today. Still, top women in the field say there’s more work to be done as only a handful of women in the industry ever make it to the C-suite level, despite being just as capable as their male counterparts.

As we enter May, we’re nearly at the halfway mark of 2026. It’s a good time to assess whether your practice is on track to achieve your goals for the year — and to determine how serving women will help you reach those goals.

Susan Rupe is editor in chief, magazine, for InsuranceNewsNet. She formerly served as communications director for an insurance agents' association and was an award-winning newspaper reporter and editor. Contact her at [email protected].