In a world of rising complexity, globalized families and investments, surging wealth levels, rapid digitalization and a viral pandemic, the importance and challenges of wealth transfer cannot be overstated.
Wealthy families must overcome many hurdles to ensure their wealth is protected and continues to accumulate over the generations while still adhering to the family’s values and vision. These hurdles include the transition of ownership and management of one or more businesses, property and other assets, but also non-commercial concerns such as philanthropic foundations or art collections.
While wealth preservation is a relevant issue for many, this report focuses on the transfer of wealth over the next decade of an exclusive group of individuals — those with a net worth of more than $5m. This wealthy population totals almost 3 million individuals collectively holding assets worth more than $62trn worldwide.
We expect that around one-quarter of these individuals will seek to pass on their estates to the next generation between now and 2030, which will involve the transfer of a staggering level of wealth.
Learn more about this wealthy population and the implications of this generational wealth transfer by downloading the report today.