Wealth Transfer & Estate Planning
Advisors structuring trusts, gifting, and intergenerational wealth transfer.
Market snapshot
These figures describe Trust & Estate Services (3.6.9), the segment that Wealth Transfer & Estate Planning sits within — not Wealth Transfer & Estate Planning on its own.
- Market size
- ~$19B
- Growth
- ~3.3%CAGR (2017–22, nominal)
- Companies
- ~2,800
U.S. Census Bureau 2022 CBP/Economic Census, NAICS 523991 (Trust, Fiduciary & Custody) + 525920 (Trusts, Estates & Agency Accounts).
Business model & economics
Revenue model
Fiduciary administration and custody fees
Key economics
- Recurring revenue
- High
- EBITDA margin
- 20–30%
- Capex intensity
- Low
recurring fiduciary administration
Characteristics
- Recurring, relationship-driven fiduciary administration.
- Supported by the great intergenerational wealth transfer.
- Independent trust companies and bank trust departments compete.
Geographic concentration
Trust and estate administration over-indexes in Nevada, whose favorable trust statutes (directed and dynasty trusts) draw charter activity, with secondary presence in Arizona and California.
U.S. Census Bureau — 2022 County Business Patterns (establishments by state), NAICS 523991. Concentration shown by location quotient.
M&A deal context
Who’s acquiring
- Trust-company consolidators
- Wealth-management platforms
- Bank & fiduciary strategics
What’s driving deals
- Bundling fiduciary services with wealth management.
- Intergenerational wealth-transfer demand.
- Consolidation of independent trust companies.
Find Wealth Transfer & Estate Planning acquisition targets
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