The revised focus on the $3.2tn wealth transfer

Over the next decade, women are expected to become the primary beneficiaries of Australia's intergenerational wealth transfer. Industry projections suggest around 65% of this wealth will be controlled or inherited by women, equating to roughly $3.2 trillion in assets. For advisers, this represents a structural shift in who controls capital, and crucially, who advice models must effectively serve.

Historically, advice relationships have often focused on the male partner as the primary decision-maker. As wealth increasingly flows to women, this approach risks leaving a growing segment of clients underserved. The challenge is amplified by a persistent gender gap in financial capability: research from Iress and Deloitte's The Big Lift shows women score 8.9% lower in overall financial capability and 5.1% lower in financial literacy than men.

Financial capability matters because it drives engagement: Australians who are confident in managing money are twice as likely to seek advice and twice as likely to act on retirement and estate planning. Yet when women inherit wealth, they often reassess existing advice relationships, with roughly 70% of widows leaving their financial adviser within 12 months of their spouse's death. Put together, the data show a clear chain: women will control $3.2 trillion → many have lower financial confidence → engagement with advisers is at risk → advisers who adapt their model now can turn this shift into a significant growth opportunity.

Engaging female clients is not about ticking an inclusion box, it's about safeguarding relationships, capturing growth, and future-proofing advice practices. Advisers who proactively engage female clients stand to benefit in multiple ways:

Stronger multi-generational access

Women often drive legacy conversations, children's financial education, gifting, and family governance. Meaningful engagement with women opens earlier access to the next generation, building long-term client relationships.

Faster referral growth

Confident, well-supported women are strong advocates. Research shows they're more likely than men to recommend trusted advisers, accelerating referral-driven growth.

Higher advice uptake

The Big Lift shows that financial confidence drives engagement. Advisers who focus on education, clarity, and empowerment - not just portfolios - see stronger loyalty and higher implementation success.

Advisers have the chance to redefine the advice experience for women - not by offering different products, but by offering different engagement. Small changes in how clients are involved, informed, and empowered can have a disproportionate impact on loyalty, growth, and influence. Some strategies to consider include:

• Review your engagement model: Review how your engagement model supports female clients - from the tools and calculators you use to the language and education you provide. Planning tools should feel intuitive and accessible to all clients, and more interactive or visual approaches can help build confidence.
• Involving both partners in strategic conversations: Avoid defaulting to male clients. Invite women into discussions from the outset, particularly around retirement, estate, and legacy planning.
• Avoid assumptions about financial roles: Even if one partner "handles" day-to-day finances, that doesn't mean the other isn't interested in or capable of making strategic decisions.
• Prioritise education alongside implementation: Build confidence through clear, jargon-free explanations. Walk clients through not just the "what" but the "why" behind strategies.
• Integrate longevity, aged care, inheritance, and transition planning: These topics are often highly relevant to female clients but overlooked in traditional advice models. Making them part of core conversations signals that advisers understand their priorities.
• Prepare clients for life events before they occur: Widowhood, divorce, and inheritance are events that are inevitable for many clients. Advisers who proactively discuss scenarios and contingencies position themselves as trusted guides rather than reactive service providers.

The long-term payoff

The wealth will transfer, and the advice relationships advisers build now - particularly with women - will determine whether they capture it. Advisers who fail to adapt risk losing clients at a critical life stage, missing opportunities to access the next generation, and leaving growth on the table. Those who can successfully engage female clients intentionally stand to retain assets more effectively during life transitions, build multi-generational client relationships, and increase referrals and advice uptake through empowerment and education.

Advisers who act are not only securing commercial advantage, they're creating a more inclusive, resilient, and future-ready advice model.