Millennials and wealth transfer

A generation poised for responsible wealth transfer

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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

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