Millennials and wealth transfer

A generation poised for responsible wealth transfer

Share

High net worth Millennials are engaged with their wealth and actively preparing themselves to manage it wisely. This report, the third of four in our wealth transfer series, looks at how Millennials acquire financial knowledge, manage the inheritance process, and prepare to pass on their wealth to the next generation.

Key findings:
  • Millennials are aware of the responsibilities of wealth, and they intend to provide strong stewardship of their family legacy
  • Millennials take the initiative to ask questions and have the ‘inheritance talk’ with benefactors and advisors

Millennials believe it’s their responsibility to prepare for wealth transfer.

Self-reliant, proactive and eager to learn, Millennials are determined to acquire the knowledge they need to preserve and grow family wealth.

want to understand their finances

plan to better support their beneficiaries

have a full wealth transfer plan

Millenials
80%
53%
38%

The facts on Millennials and wealth transfer

69%

conduct their own research to improve their financial knowledge

53%

silhouette of teenagers

seek knowledgeable individuals to learn more about wealth

46%

dollar sign

manage their own investments to improve their understanding

More insights you may also be interested in

Analysis

Brexit: Put to the test

There’s no break in the clouds as a delicate economy and a weak government keep the UK equity story mired in uncertainty.

6 minute read
Analysis

Tax reform and U.S. equities: A less taxing situation

Sweeping tax relief will reshape the U.S. corporate environment, boosting prospects for earnings, the economy, and shareholders.

5 minute read
Wealth transfer

Wealth transfer: Preparing the next generation

Conflicting cultural values and multi-jurisdictional challenges can arise when passing wealth to benefactors in other countries.

6 minute read

Is the next generation ready?

Explore our 2017 Wealth Transfer Report

Learn more