Succession planning: Understand the Next Generation
Understanding the interests, perspectives and motivations of the next generation can bolster your wealth planning strategy. By incorporating your successors’ thinking and long-term goals into the plan, future generations may be more incentivized to nurture and expand the family’s wealth as assets are passed down.
Today’s affluent youth are focused on investment solutions that support the 17 UN Sustainable Development Goals, investments that meet ESG criteria (Environmental, Social and Governance) and climate- and sustainability-focused initiatives like low-carbon investments.
In terms of the latest trends, among women with inherited wealth, philanthropy is their most popular interest, while a fifth of all wealthy individuals with an inheritance show an interest in both art and the outdoors.3