By 2030, women in the United States are expected to control $34 trillion in financial assets, up from $7.3 trillion just a decade ago.¹ This represents a major component of the “Great Wealth Transfer,” a $84 trillion shift projected to occur between generations by 2045.²

Fueled by inheritance, longer life expectancies, and rising career earnings, this transition is more than just a financial event — it’s an opportunity for women to shape the future of wealth, philanthropy, and investment.

Opportunities to redefine wealth management

Women are increasingly focusing on financial independence. Empower research reveals that 46% of women believe it’s very important to avoid relying on anyone else financially. Financial happiness is a major goal, with 64% setting clear financial objectives and 59% feeling confident in their financial plans.

This growing confidence is shifting the landscape. Women’s influence on financial decision-making is opening doors for financial institutions. There’s a $700 billion opportunity for firms to better serve women investors by aligning products with their priorities, such as sustainable growth, family security, and social impact.³

With women more likely than men to prioritize causes like education, healthcare, and poverty alleviation, their growing wealth is expected to lead to significant increases in philanthropy.⁴ Some who are in high-profile roles are leading the trend, like Mackenzie Scott, who since 2020 has donated more than $17.3 billion to a wide range of charitable initiatives.⁵

Financial literacy plays a key role in this shift. For many women, stepping into roles as primary wealth managers comes with a learning curve. Inheriting or earning significant wealth often means navigating complex investment strategies and estate planning. Financial institutions that offer tailored education and guidance can help women build confidence and achieve their financial goals.⁶

Read more: Estate planning primer: Trusts and estates

Challenges to address

1. Navigating complex financial systems

Managing large inheritances or intricate portfolios can initially seem daunting, especially for anyone stepping into a new financial role. Accessible resources and guidance can simplify tax laws, investment strategies, and estate planning, empowering women to make confident decisions.

2. Tackling the gender wealth gap

This wealth transfer is a unique chance to close the gender wealth gap, which is how much women own and keep compared to men. By addressing systemic inequities like the gender pay gap and limited access to wealth-building tools, women can reshape their financial futures.⁷ Research from the Federal Reserve underscores how equitable wealth distribution benefits not only individuals but the entire economy.⁸

3. Overcoming systemic barriers

The financial services industry is evolving to meet women’s needs. By designing products and services that reflect women’s diverse priorities, such as caregiving responsibilities and longer life expectancies, financial firms can create inclusive solutions that enhance women’s financial experiences.⁹

4. Balancing wealth and responsibility

With increased wealth comes greater responsibility. Many women are embracing the challenge of managing finances alongside family obligations and societal contributions as women’s philanthropy gains visibility and impacts the sector.¹⁰

Future outlook

The $34 trillion wealth transfer represents a turning point: By managing, growing, and distributing their wealth effectively, women are poised to redefine financial norms and leave a legacy to influence their families and the industries, communities, and charitable causes they support.¹¹

This historic wealth transfer isn’t just about numbers — it’s about reimagining what wealth can achieve. From building generational wealth to driving philanthropic innovation, women’s growing financial power can play a transformative role in shaping the future.