Ingram's July 2026

Thought Leader Insights: Succession and Wealth Trends

Q&A . . . W ith D avid C allanan The co-founder of two monolithic wealth-management enterprises reflects on changes that affect differing generations of investors, emerging trends in retirement living, and the sector’s vibrancy.

Q: Most projections put the Great Wealth Transfer at roughly $84 tril lion through 2045, with Baby Boomers driving the bulk of it. How is that actually unfolding on the ground right now? A: It’s interesting, thinking about the advisers we work with and the people we serve, most of them are in those two genera tions, Boomer and Silent, and we’re really making a difference for them. From our standpoint, from both business growth and the people we serve, the value add we’re pro viding is accelerating in both the numbers of people we serve and unbelievable growth with advisers all over the country. I think it’s because when we look at the group of Boomers and even Silent, both have a handful of problems, or opportunities, however you look at it, with things going on pretty consistently. Q: What are some of those? A: No. 1: They need a real plan that meets expectations. They know they need to spend some, save, might give some, might want to transfer some to children and grand children. Do you have a plan that allows you to do all that? No. 2: I think the cost and chal lenge of health care, home health, long-term care—all of that is really expensive. If they can get that insured and feel confident, it allows them to put their money to work so they can also have great experiences in retirement. Tax planning is an ongoing conversation; most everyone is willing to pay their fair share, but for a lot of us, it’s fairly complicated. You want to be able to pay the right amount, but not the wrong amount, and plan around that. If you compared the Boomers vs. the Silent, the Boomer is still in the go-go phase; there’s a lot of energy left in that group. They are asking themselves questions about this awesome nest egg—they’ve got investments in stocks and bonds, but now they’re also asking, how can I invest in the experiences that help define retirement lifestyle? My mom and dad

sits at the very top of the age pyramid. Has the bulk of the transfer essentially run its course? A: They are still very active. If nothing else, I think they are willing—that group, they are older, now in their 80s and 90s, and even 100 or more, so people are living longer. When I gave the example of things they are more interested in, maybe those areas include tax savings, maybe not. For some, that’s not the top priority. Are they really focused on retirement income and rate of return? Not as much. Are they interested in how they are posi tioned for the cost of long-term care or home health, and how their wishes for their estate are carried out? I think they absolutely are. Some still have unbelievable health—they’re still rocking and rolling— but many are slowing down. But as we coach them on experiences, they are also thinking about kids and grandkids. Maybe giving money away and seeing that the kids get that Disney World trip, or paying for college to make a difference. The point is, the goals or dynamic of that planning shifts with the older clients vs. younger retirees. Q: As more clients shift from accumu lation into transfer mode, how is succession planning reshaping the way portfolios are actually built—asset location, liquid ity, concentration risk, the role of trusts, life insurance, and tax-aware vehicles? A: The people 55–90 are who we’re here to serve. When you know your demo graphic, you know the tools you should have. If I build a home, the tools look dif ferent if it’s a mobile home vs. something near Downtown Kansas City. As retirement specialists, we need a broader-based tool kit. A lot of those in our industry are fee-only advisers, but OK, what tools do you employ to help clients? How you charge people is not a tool you use. As retirement planners, we can use stocks, bonds, ETFs or similar tools

are Boomers who were able to spend $1,500 to see the Argentina game in the World Cup. So at 75, they know they saw Lionel Messi play one of his last World Cup games. That’s part of the goal now for many. All the other things have been taken care of, so I think in that world, investing today is also about experi ences. I believe more and more people looking to their retirement years need to be asking themselves about that. What our AE advisers believe, and we believe, and clients do, too, is that the value of planning is not just about the return on your money. I think it really is an extension of, and value add for, your lifestyle. Often in this industry, there’s too much focus on the spreadsheet, when the focus should be on the personal experience. A: You have to be real. Too often, that balancing becomes generalized: “If you’ve seen one retiree, you’ve seen them all,” and it’s less about what personal plan you can create. Some people have saved more, some less; some have pensions, some do not. Some had real-life challenges that changed their plans. Some are investing in grandkids in ways earlier generations might never have planned on being able to do. In general, yes, I do think the wealth overall of retirees is more. They have the excess, whether the Silent or Boomers. Maybe they saved in a 401(k), and if you look at the markets over 20 years, that method has been working really well—generated a lot for them, with their returns made over time. The key to the whole deal is, as an individual, what’s your plan and how will it meet your expectation for what you want in retirement, so that you can get what you want and desire out of it. Q: Roughly 15 million members of the Silent Generation are still living, and a meaningful share of dynastic wealth still Q: What’s needed to help clients ensure that higher quality of life?

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July 2026

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