We are in the early innings of the largest wealth transfer in American history. More than half of all wealth in America will change hands over the next two decades, with an expected total of $84 trillion through 2045. Every year the US mints new millionaires, with 2023 seeing 7.3% year over year growth in new entrants. A striking commonality among this group? Many have never had a formal wealth advisor.

This once-in-a-generation shift—paired with the digitally-native expectations of Millennial and Gen Z customers—creates a ripe moment for registered investment advisors (RIAs) to reconsider long-held approaches. RIAs need tools to engage these new customers where they are, and with what they uniquely need: two in three Millennial and Gen Z clients will expect services beyond traditional financial advice and investment management. The team at Wealth.com is leading the way with purpose-built technology that fosters flexibility, personalization, and the ability to scale with this new cohort of wealth holders.

Wealth.com is on a mission to modernize estate planning with an AI-enabled estate planning platform built for financial institutions, serving clients ranging from mass affluent to ultra-high-net worth individuals. 53 Stations is delighted to have participated in their $30 million Series A round, announced yesterday, September 16, alongside lead GV, Citi Ventures, Outpost Ventures, and Firebolt Ventures. 

The company – led by second-time founder Rafael Loureiro – is empowering RIAs to close the gap between services clients expect from their financial advisors and what they actually receive. According to a study by Spectrem, over 90% of all advisory clients expect to receive estate planning assistance from their wealth advisors, but less than a quarter are receiving it. And the technology itself is unlocking a new customer base. By reducing the traditional barriers to entry in estate planning, RIAs will have access to individuals in need of basic wills and trusts. Only 36% of Americans between the ages 30 and 49 have a will in the US. Ages 29 and below drops to 20%. Rafael experienced this problem himself as a young founder who successfully exited his first business. After he sold his prior business, he was confronted with a sudden need for estate planning.

Through partnership with The Pritzker Organization (TPO), 53 Stations can leverage the extensive network of experienced business operators and potential customers to fuel our portfolio’s growth. TPO’s investment in Steward Partners, a leading RIA with over $37 billion in AUM, provides us with deep insights into the rapidly evolving wealthtech landscape and first-hand knowledge of customer expectations and feedback. Over years of investing in wealth management businesses, TPO has also cultivated relationships with dozens of other RIAs within our ecosystem. At 53 Stations, we are laser-focused on accelerating go-to-market strategies for our portfolio companies; partnering with us means direct access to a vast network of prospective customers.

There are many facets to the Wealth.com business that excite us – but at the end of the day, the most encouraging is their fantastic product. Every advisor we’ve spoken to boasts of its superior user experience to competitors and brilliant features. This is reflected in their most recent launch, Family Office Suite^TM, a collection of estate management tools designed for high-net-worth and ultra-high-net-worth clients. By integrating artificial intelligence with human expertise, the suite simplifies estate visualization, optimizes tax planning, and streamlines reporting processes—empowering RIAs to deliver on their clients’ evolving needs and build trust along the way.

If you’re a founder in the wealth technology space interested in sharing information about your company with 53 Stations, reach out at 53stations.com/contact.