The wealth communication gap: Here's what to know

Summary

CNBC's Robert Frank discusses a J.P. Morgan Family Wealth Institute survey showing a communication gap between older and younger generations over family wealth. The segment highlights the coming $100 trillion intergenerational wealth transfer, differing generational views on wealth, and the risk of disputes when families fail to communicate. It also notes that wealth managers are increasingly addressing family dynamics and that inheritors should be prepared and start investing early.

• Over $100 trillion is expected to transfer between generations over the next two decades.
• A J.P. Morgan survey finds younger generations more stressed and anxious about financial discussions.
• Boomers and younger generations define wealth differently: security and discipline versus freedom and values.
• Poor communication can delay inheritors' knowledge of family wealth until a crisis, causing disputes.
• Robert Frank says wealth management has shifted toward family dynamics, not just returns and estate planning.
• Suggested solutions include clear expectations, early investment experience, and prepared inheritors.
• The segment also mentions inheriting real estate and assets across income levels.