We check in with David Toth, Managing Director at FOX about his recently-published study, Transformation of the Ultra Wealth Business.

How is the Ultra Wealth Industry Transforming?

David Toth: It’s pretty remarkable. I guess there’s just a point in time where we found it was time to declare that it is transforming. And perhaps it has been all along.

The point in time, for us, is tied to the great wealth transfer that we’ve talked about. And we’ve heard numbers all over the place—e.g. $40 trillion—whatever it may be. We just know that it’s massive and we know, demographically, it’s going to begin. So, if you’re an advisor today and you see this coming, you think, “well that’s a terrific opportunity.” What’s the business of the future that we need to build around this? Because it’s not going away. It’s not a one-time event. The stretch of time of this “great transference of wealth” is at least a decade, if not more.