As Our Insights readers know, we tend to treat large, headline-grabbing trends with healthy skepticism. However, as the year wraps up looming concern for ‘The Great Wealth Transfer’ is top of mind for most families. Cerulli Associates projects that USD$106 trillion will move across generations by 2048. This shift underscores the sheer scale of capital set to reshape family balance sheets, bringing forward questions about financial readiness, long-term stewardship, and the broader economic effects of concentrated capital flows.
In response, families are beginning to view investment management as an important form of strategic protection. Rather than focusing on the magnitude of assets being passed down, many families are beginning to consider how structure and long-term planning may support stability across generations. During a year of market volatility, transfers of wealth are met with the foresight necessary to preserve financial integrity across generations.
The Economy is Likely to Reaccelerate in 2026 | Apollo
Looking into the new year, we believe that the 2026 market rebound is supported by U.S macro resilience, earnings per share growth, and easing central bank rate cuts in North America. As history has proven, markets are contingent on alignment of financial conditions to nurture this expected growth. For patient investors, resiliency may prove valuable as the cycles strengthen.
… which the CBO estimates will boost GDP growth by almost a full percentage point in 2026, mainly because of accelerated depreciation.
Canada Budget 2025: Tax changes you need to know about
The 2025 Federal Budget introduces several tax adjustments affecting Canadians and businesses alike. New credits and removal of select levies are expected to ease costs for caregivers and homeowners, while tighter rules around trusts and deductions may require attention when navigating the tax season.
Letter: Canada’s Financial Literacy Gap
No one needs to be reminded that financial literacy can feel complicated, even when its readily available. Knowing the facts is one thing, but having the structure to translate this knowledge into useful output is something else. As Malcom Valcin’s letter notes, families benefit most when that gap is seamlessly bridged.
In each case, more education helps at the margin, but the binding constraint is not the person’s knowledge; it is the structure of products, the distribution channels, the conflicts in advice models and the lack of simple tools and effective recourse.
Has Passive Investing Grown Too Big to Proxy?
The expanding influence of passive investing is increasingly steering market dynamics, with index-driven flows elevating correlations and muting fundamental signals. In this environment, shifts in macro sentiment can trigger sharper, more synchronized market swings relative to fundamentally driven markets.
The Gift We Give our Kids
As the holiday season looms, Joy Lere, provides a unique perspective of the importance of building meaningful relationships. When instilling strong values, the view of wealth extends beyond a resource and rather a tool used for thoughtful output.
Across generations, countless stories capture the sacrifices families make to ensure their kids have it easier. We work to provide opportunities that will position children to flourish and thrive. We aim to shield our children from the pain of scarcity. But determining how much to give—and what to withhold—is a delicate balance.
Lauer Private Wealth at RBC serves as the investment office for a select group of institutions and families. The practice is centered on multi-asset portfolio management, estate structuring, and intergenerational wealth architecture.
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Works cited: Apollo, Bloomberg, Cerulli Associates, ChatGPT, Finding Joy, investment Executive, The Financial Post.