It's a tangent, but I really think the "bequest boom" might be over-stated.

In general, baby boomers are probably going to live longer than their forebears. And this is great news! But health care and general elder care are INCREDIBLY expensive and will probably only become more expensive over time. That is going to eat up a lot of this potential wealth transfer.

I also think that a huge portion of that wealth to be bequeathed, at least in Canada, is related to real estate. I'm not sure how much of it will remain as the social costs from housing unaffordability mount and governments are forced to address the inequities created by their policies in this area.

Though the future will surely continue to bring forth other ways to improve our lives, people might simply have less wealth that needs managing. Maybe financial firms will simply be less relevant long-term.