Will the Great Wealth Transfer Divide Millennials? | Featuring Chayce Horton
December 12, 2025
What will the coming decades look like as millennials begin inheriting assets, building equity, and navigating one of the largest wealth transitions in U.S. history? Watch as Cerulli's Chayce Horton breaks down key trends and numbers with SiriusXM's Michael Smerconish.
Watch the Video
ContinueIn their discussion:
- Are millennials actually accumulating wealth—or only certain segments of the generation?
- How housing costs, debt, and delayed milestones shape millennial financial health
- Why the “transfer of millennial wealth” may look very uneven across class lines
- What the numbers reveal about who is rising, who is stuck, and why
Subject Matter Expert
Meet Chayce Horton
Chayce Horton
Associate Director
Bio →
Chayce Horton
Associate Director
Chayce is an Associate Director in the Wealth Management practice and is the lead author of the annual High-Net-Worth and Ultra-High-Net-Worth Markets report. He also helps lead the annual Private Banks and Bank Trust Companies report as well as the quarterly Cerulli Advisor Edge. Chayce specializes in research and consulting related to high-net-worth investors and advisory firms, including multi-family offices, RIAs, broker/dealers, private banks, and trust companies, as well as the asset management providers that serve these investors and intermediaries.
Prior to joining Cerulli, Chayce worked in enterprise data governance, geopolitical research, and commercial banking at multiple global financial institutions.
Full biography here.
Related Resources
- Annual report
- The Cerulli Edge
December 2025
The Great Wealth Transfer is Accelerating. But Who will Actually Benefit from it? | Featuring Chayce Horton
The great wealth transfer is accelerating, but not everyone will share in it. Chayce Horton, the Associate Director of Wealth Management at Cerulli Associates, joins Michael Smerconish to break down the demographic shifts behind the coming inheritance boom and investigate why a large share of millennials may never see life-changing wealth.
December 2024
What is the “great wealth transfer,” and who’ll benefit from it? NPR Marketplace
Chayce Horton joins Mitchell Hartman on NPR Marketplace to discuss Cerulli's wealth transfer number which forecasts $124 trillion will change hands from older to younger generations.
December 2024
Coming Wave of Inheritance, Cost of Data, EU's Competition Tradeoff | Wall Street Week
Chayce Horton speaks with David Westin at Bloomberg about the increasing net worth coming from inheritance.