Jessica Jung, CFP(R), Urges Second-Generation Wealth Inheritors to Prioritize Financial Mastery Amid Historic Wealth Transfer

Founder of Vast Wealth Advisors empowers heirs to steward legacy wealth with clarity, confidence, and strategy

NASHVILLE, TN / ACCESS Newswire / June 27, 2025 /With an estimated $84 trillion set to transfer from Baby Boomers to their heirs over the next two decades, according to a 2024 Bank of America study, Jessica Jung, CFP®, Founder of Vast Wealth Advisors, is calling on the next generation to prioritize financial management skills to navigate this historic wealth transfer.

"Inheritance can be a blessing or a burden," says Jung. "Without the knowledge to manage wealth effectively, even vast fortunes can diminish quickly. Financial education is the strongest foundation for success."

With over 20 years advising high-net-worth families, Jessica Jung has witnessed how unprepared many inheritors are when assuming control of family businesses, complex trusts, or liquid assets. A 2024 FINRA survey highlights the issue, revealing that two-thirds of U.S. adults struggle with basic financial concepts. Additionally, a Cerulli Associates report notes that many heirs switch advisors post-inheritance, often feeling disconnected from their family 's financial professionals or uncertain about their new responsibilities.

"Inheritors don 't need to become financial experts," Jung explains. "They want clarity and confidence to honor their family 's legacy while pursuing their own goals. That begins with education and trusted guidance."

Through her firm, Vast Wealth Advisors, Jung works closely with heirs in their 30s, 40s and 50s - through pivotal life transitions, such as marriage, parenthood, or career changes alongside newfound wealth. Her approach combines technical expertise with personalized, values-driven planning.

As a board member of Partners Financial and an active member of the Financial Planning Association (FPA) and FINSECA, Jung advocates for higher standards in financial advising, emphasizing fiduciary responsibility, transparency, and long-term strategy over short-term gains.

Jung offers three key steps for inheritors and rising wealth holders:

• Protect Your Assets: Establish the right legal and financial structures-such as trusts, insurance, and estate plans-to safeguard your wealth against risk, liability, and mismanagement.

• Minimize Taxes: Use proactive planning strategies to reduce both current income taxes and future estate taxes. Techniques like tax-efficient investing, trust, and charitable giving can help preserve more wealth across generations

• Define the Legacy You Want to Build: Clarify your long-term goals and values, and align your financial decisions with the kind of impact you want to make-for your family, your community, and yourself.

"You don 't need to know everything on day one," Jung says. "But having a growth mindset, staying engaged, and taking ownership of your financial future - that 's how legacy becomes leadership."

Beyond her advisory work, Jung is dedicated to community impact, supporting organizations like Autism Speaks, Special Olympics, St. Jude Children 's Research Hospital, and Nashville Rescue Mission. She believes financial empowerment and social good are interconnected.

"Wealth is more than money," Jung emphasizes. "It 's a tool to protect what matters, give meaningfully, and live with purpose."

For more information please contact:

media@vastwealthadvisors.com
www.vastwealthadvisors.com

Securities offered through Registered Representatives of Cambridge Investment Research, Inc, a broker-dealer member FINRA/SIPC. Advisory services through Cambridge Investment Research Advisors, Inc., a Registered Investment Advisor. Cambridge and Vast Wealth Advisors are not affiliated. Cambridge does not offer tax or legal advice. Fixed insurance services offered through independent insurance carriers.

SOURCE:Erase.com

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