Equitable PEAK 35(TM) Study: Millennials Seek Trusted Financial Advice as They Build and Inherit Wealth
MWN-AI** Summary
The Equitable PEAK 35™ study, "Guiding a New Generation of Wealth," explores how millennials, now entering their prime earning years, seek trusted financial advice as they navigate both wealth-building and inheritance during this pivotal financial transition, often termed “Peak 35.” The research reveals that while millennials exhibit a general confidence in making financial decisions, that confidence wanes significantly—droping to just 27%—when faced with the complexities of wealth management, such as inheriting assets.
As part of the anticipated Great Wealth Transfer—an estimated $30 to $140 trillion moving from baby boomers to younger generations by 2045—millennials are becoming key players in the economy, with 69% expecting to inherit assets including cash, real estate, personal valuables, and financial investments. The study highlights the critical role that financial advisors play in this process, with nearly 70% of millennials showing a preference for personalized advice over digital-only solutions.
Trust plays a vital role, as many millennials recognize the importance of their family’s relationship with financial advisors—87% cite it as a key factor influencing their decisions on continuing relationships with such professionals. However, they also demand more from advisors; nearly 40% would switch if they feel unsupported or that their advisor lacks relevant experience.
Beyond numbers, millennials view financial planning as an emotional journey intertwined with their values and aspirations. With 93% prioritizing alignment of their advisor's values with their own, Equitable emphasizes that understanding this aspect is essential for advisors aiming to establish lasting connections with millennial clients and navigate the evolving landscape of wealth management.
MWN-AI** Analysis
The recently released "PEAK 35™" study by Equitable highlights a pivotal trend among millennials as they navigate wealth-building and inheritance during a significant financial transition period in the U.S. economy. With the "Great Wealth Transfer" projected to shift trillions from baby boomers to millennials, understanding this demographic's evolving financial needs is crucial for advisors looking to capture market share.
The study reveals that while millennials exhibit confidence in making basic financial decisions—roughly 80% initially—this drops dramatically to only 27% when faced with more complex financial situations. This underscores a unique opportunity for financial advisors to provide personalized and expert guidance tailored to the complexities of inheritance and wealth management. Advisors should focus on building comprehensive plans that consider not just financial goals, but the underlying familial and emotional values that millennials prioritize heavily, as underscored by the 93% who want alignment on personal values with their advisors.
Moreover, the study indicates a significant shift in millennials' preference for financial advice; 69% express a desire for human interaction, favoring a hybrid approach that combines digital tools with personalized service. This highlights the need for financial institutions and advisors to enhance their offerings and communication methods to better cater to this demographic.
Advisors should also take note of the strong impact familial relationships have on millennial loyalty; 87% consider their family’s experience with financial advisors when choosing to work with one. Establishing trust through transparent communication and tailored advice will be key to retaining millennial clients and their inherited wealth.
In conclusion, for financial advisors, adapting to these insights is essential. Those who cultivate a responsive, personalized approach grounded in values and enhanced by technology will not only connect with millennials effectively but also position themselves favorably as this generational wealth transition unfolds.
**MWN-AI Summary and Analysis is based on asking OpenAI to summarize and analyze this news release.
Only a quarter of millennials feel confident making smart decisions as their financial lives get more complex
Equitable , a leading financial services organization and principal franchise of Equitable Holdings, Inc. (NYSE: EQH ), today published a new study, “PEAK 35 TM : Guiding a New Generation of Wealth,” exploring how millennials are both building and inheriting wealth. The white paper equips financial advisors with key insights to better serve this generation, as millennials reshape expectations for growing, protecting and stewarding wealth.
The U.S. economic landscape is undergoing a profound shift as two major demographics reach pivotal financial milestones. Much attention has focused on the more than 4 million baby boomers turning 65 each year, often referred to as “Peak 65.” Meanwhile, an equal number of millennials are turning 35, marking the rise of “Peak 35.” Millennials are a driving force in the American economy as the largest generation in the workforce. As they transition from early?career earnings to wealth?building, many are also poised to inherit assets as part of the Great Wealth Transfer — an unprecedented shift of $30 to $140 trillion from baby boomers to younger generations by 2045. i
Equitable’s study reveals that nearly seven in 10 millennials expect or are fairly confident they will inherit assets from their families. Most anticipate a range of asset types: 71% expect cash, 51% foresee receiving personal valuables such as jewelry, 46% anticipate real estate, and 41% expect financial assets like stocks, bonds and retirement accounts.
“Millennials stand at a critical financial crossroads as they move into their prime earning years and begin to inherit wealth from their aging baby boomer parents,” said Gerald Grant III, CFP ® and financial advisor with Equitable Advisors, who is part of a multigenerational family practice. “This historic transfer of wealth is about more than passing down assets, it’s about passing down values. Engaging the entire family in honest — and sometimes uncomfortable — conversations lays the foundation for truly lasting relationships. Once trust and transparency are established, a holistic financial plan that reflects the family’s goals can take shape and put everyone on the same path forward.”
As millennials redefine expectations around advice, planning and engagement, Equitable’s study uncovered the following key insights to help financial advisors future?proof their practices and serve this next generation of clients as the “Peak 35” phenomenon unfolds.
- Complexity rattles confidence: While nearly eight in 10 millennials feel confident making smart financial decisions today, that confidence drops sharply to just 27% when their financial situation becomes more complex. As millennials prepare to inherit cash, real estate, investments and businesses from their aging parents, this shift in assets presents a clear opportunity for advisors to offer expert guidance and holistic financial planning.
- Human touch with digital support: As digital natives, millennials are the first generation to widely use digital financial tools. However, as their financial lives grow more complex, their reliance on AI?driven and DIY investment platforms is shifting. Many now seek personalized financial guidance as they build and inherit wealth. Notably, nearly seven in 10 millennials would prioritize working with a financial advisor over a solely digital experience. Specifically, 27% prefer working just with a financial advisor, while 41% of millennials prefer a hybrid approach that balances technology and tailored advice.
- Trust is the bridge to keep clients across generations: The study reveals that 68% of millennials have already discussed future inheritance planning with their parents, and two-thirds of those families work with a financial advisor — underscoring that financial planning often begins at home. That influence runs deep: 87% of millennials say their family’s relationship with a financial advisor is a key factor in deciding whether to continue working with that advisor themselves. But loyalty has limits: four in 10 millennials would switch financial advisors if they do not feel seen or supported, or if the advisor lacks experience with clients in a similar situation.
- Purpose meets advice grounded in values and expertise: The current shift in wealth is more than a financial decision for most millennials — it’s emotional and cultural. The study revealed that an overwhelming 93% of millennials believe it’s important for their financial advisor to align with their personal values and goals. Moreover, nearly three-quarters of those already working with a financial advisor plan to seek one who specializes in inheritance and wealth transfer.
“It’s clear millennials value trusted advice as their financial lives grow more complex. However, financial planning is about more than numbers on a page for this generation. It’s about building a personalized roadmap for the future, grounded in purpose and shaped by their values and family dynamics, so they can look ahead with confidence,” said Nick Lane, President of Equitable. “Financial advisors who understand this mindset will be best positioned to connect with millennial clients, future?proof their practices and support them through every life stage.”
About the study:
Equitable’s “PEAK 35 TM : Guiding a New Generation of Wealth” study was conducted by an independent, global survey panel provider. The survey included 500 U.S. adults born between 1981 and 1996 and was fielded online between June 26 and July 7, 2025. The survey sample closely reflects the demographic makeup of the U.S. adult population, with respondent distributions aligned to U.S. Census benchmarks by region, race and gender. Results were then weighted by household income to reflect typical financial advisory clients. Where applicable, data is segmented by gender and by the presence of a financial advisor to surface relevant differences in attitudes and behaviors. Survey participation was anonymous.
About Equitable:
Equitable , a principal franchise of Equitable Holdings, Inc. (NYSE: EQH ), has been one of America’s leading financial services providers since 1859. With the mission to help clients secure their financial well-being, Equitable provides advice, protection and retirement strategies to individuals, families and small businesses. Equitable has more than 8,000 employees and Equitable Advisors financial professionals and serves more than 4 million clients across the country. Please visit equitable.com for more information.
i Cerulli Associates, U.S. intergenerational wealth transfer estimates, 2023.
Equitable is the brand name of the retirement and protection subsidiaries of Equitable Holdings, Inc., including Equitable Financial Life Insurance Company (Equitable Financial) (NY, NY), to which reference to the 1859 founding specifically and exclusively refers. Equitable Advisors, LLC (NY, NY 212-314-4600), member FINRA, SIPC (Equitable Financial Advisors in MI & TN), a broker-dealer / Equitable Advisors, LLC, an SEC-registered investment advisor. All companies are affiliated. “Advisor” is used to generally describe insurance / annuity, investment sales, and advisory professionals who may be licensed as insurance agents, registered with broker-dealers, and registered as investment advisory representatives of registered investment advisors, respectively. GE-8770828.1 (02/26)
View source version on businesswire.com: https://www.businesswire.com/news/home/20260224414170/en/
Media Contact:
Bill Sutton
(315) 373-9685
mediarelations@equitable.com
FAQ**
How does the study from AXA Equitable Holdings Inc. EQH address the specific concerns millennials have about complex financial decisions and their confidence levels in seeking financial advice?
What key insights did AXA Equitable Holdings Inc. EQH provide for financial advisors aiming to serve the millennial generation effectively as they experience "Peak 35"?
In what ways does AXA Equitable Holdings Inc. EQH emphasize the importance of personal values and emotional factors in financial advising for millennials facing inheritance and wealth transfer?
How does the anticipated Great Wealth Transfer, highlighted by AXA Equitable Holdings Inc. EQH, influence millennials' expectations of financial advisors and their relationships with family financial planning?
**MWN-AI FAQ is based on asking OpenAI questions about AXA Equitable Holdings Inc. (NYSE: EQH).
NASDAQ: EQH
EQH Trading
-1.4% G/L:
$39 Last:
1,004,884 Volume:
$38.72 Open:
