As the number of extremely affluent women taking control of their families’ wealth management increases, it offers financial service professionals new opportunities, according to one researcher.

“We are in the midst of a significant shift in the wealth paradigm,” said Mindy Rosenthal, co-author of a Wilmington Trust study of women between ages 40 and 65 with net assets of at least $25 million, performed by her employer, Campden Media.

“This is an important trend,” she said. “Women are stepping up to new levels of involvement in the management of their families’ wealth, with 88% of those in the study playing a high to moderate role in the management of family assets. At the same time, they want to be more open with their children about family wealth, but they fear mishandling the discussions.”

Rosenthal said she sees “a significant opportunity for advisors who can help women with all aspects” of wealth planning, including asset management, estate planning, family governance, and wealth education.”

The increased involvement of affluent women in their wealth management in their families reflects larger societal shifts taking place over the last few decades, the study suggests. The research also reveals that affluent women are choosing more active methods of guiding the next generation in wealth planning.

Women are seeking a holistic approach to wealth management, which includes establishing family governance structures and fostering dialogue, particularly with their children, about wealth management.

The study, conducted last fall, surveyed 40 women between the ages of 40 and 65 who had a minimum net worth of $25 million and at least one child. Just under half of the participants inherited their wealth, while the remainder were evenly split between those who created their wealth and those whose husbands are the source of their wealth.

More than 50% have a family net worth greater than $50 million; 25% are wealth creators; 47.5% are inheritors; 27.5% source their wealth to their spouses, according to the research.

“More than anything, the women in our study view their wealth as a source of empowerment to achieve their goals and independence,” said Cynthia A. Conway, marketing manager for Wilmington Trust’s Wealth Advisory Services business. “Unlike their fathers and mothers, who tended to view wealth as a demonstration of their success in life, these women view their wealth primarily as a means to pursue a path that reflects their deepest values and their desire to serve their communities.”

While the women surveyed said they were raised in households with traditional views of a woman’s role, they emerged with a commitment to develop their professional skills and to be viewed in their families and communities as having equal opportunities and status as men, she added.