Improving Client Service and Retention: Wealth Management Solutions for Bank Trust Leaders

Legacy Clients and Rising Expectations: Bank Trust and the Next Generation

For CEOs, CFOs, and leaders of trust departments, the landscape is changing rapidly. The Great Wealth Transfer is no longer a distant forecast. Cerulli Associates now projects that $124 trillion will move to heirs and charities through 2048, the largest transfer of wealth in history. Baby Boomers hold nearly half of U.S. household wealth today, and over the coming decades, those assets will flow primarily to Generation X, Millennials, and women who will assume greater control of financial decisions. This shift represents both a generational opportunity and a risk to institutions that do not evolve.

At the same time, client expectations are rising. Families who have relied on traditional trust services are seeking more than fiduciary oversight. They expect personalized investment strategies, digital convenience, transparent reporting, and values-based options. This is where AssetMark and Cheetah’s cross-platform solution can help institutions deliver this level of service consistently to retain and grow their client base. Those who don’t adapt may see assets leave as heirs consolidate relationships elsewhere.

Legacy Wealth Helps Meet New Expectations

Research highlights how client behaviors are shifting. EY found that nearly half of investors worldwide would prefer to consolidate all financial activities with a single provider, yet many have not taken that step. This presents an opening for trust departments and companies that can integrate wealth management and fiduciary services in a way that feels seamless to the client.

Staffing adds another layer of complexity. McKinsey estimates that the industry may face a shortage of 100,000 financial advisors by 2034 unless productivity improves. Fewer available professionals mean trust organizations must do more with less while maintaining the same high standards of fiduciary care.

Taken together, these trends highlight a reality for executives: meeting rising expectations requires more efficient operating models and the ability to deliver greater value without increasing costs at the same pace.

How Bank Trust Leaders Can Adapt to a Changing Investment Landscape

The demands of this environment cannot be met by legacy systems or manual processes. Executives are increasingly turning to integrated wealth management solutions that provide:

• Scalability with quality maintained: AssetMark’s Bank Trust solution enables institutions to broaden strategies without expanding headcount, giving executives more confidence to scale while keeping standards high.
• Consistency across accounts: AssetMark provides a curated suite of approved strategies and oversight processes designed to bring uniformity to due diligence and governance
• Modern client experience: Through AssetMark’s collaboration with Cheetah, institutions can offer secure digital access and transparent reporting, features that resonate with next-generation clients.

Institutions that embrace these capabilities can shift from reactive operations to proactive growth, while also potentially lowering the risk of errors and damage to their reputations.

Building Profitability Through Stronger Client Retention

Retention has always been the foundation of profitability. Bain & Company research shows that improving customer retention by just 5% can raise profits by 25% to 95%. With trillions in wealth moving between generations, retention today is not just about keeping one family—it is about sustaining the institution’s relevance for decades to come.

Next generation investors are more likely to change providers. Studies consistently show that many younger heirs move their assets after inheriting them. To prevent this, trust organizations must demonstrate clear value and offer comprehensive solutions, accessible technology, and efficient compliance and oversight.

From an executive perspective, modernized investment operations also help drive financial efficiency. Automated workflows reduce administrative burden while integrated reporting saves staff time. This centralized oversight allows leaner teams to manage larger books of business that result in higher employee revenues and stronger margins.

What the Great Wealth Transfer Means for Trust Organizations

The Great Wealth Transfer is more than a passing trend. It is a structural transformation of wealth ownership that will test the scalability, profitability, and resilience of most trust departments and companies alike. Institutions that continue to rely on traditional processes may struggle to compete.

AssetMark’s integrated solution for Bank Trust leaders is built with these challenges in mind—combining scalability, compliance, and a client-first experience to help institutions remain competitive in the decades ahead.

Now is the time for executives to evaluate whether current investment operations can meet the demands of the next generation. With the right platform in place, bank trust organizations can strengthen oversight, expand client offerings, and secure their place as trusted stewards of family wealth for years to come.

Is your organization ready for the next generation? Contact AssetMark to learn how our bank trust solutions can help you deliver scalable, compliant, and client-centered investment strategies that build lasting relationships and long-term growth.

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8340724.1 | 08/2025 | 08/31/2027