Creating a world
with the Next Generation and their families
Shape your legacy
Shaping your footprint
The NextGen have an overwhelming desire to have a positive impact on society. They are keen to participate in how their family’s legacy is structured so that they can have a say about how their wealth will be deployed in the future to achieve the family’s objectives. This is a process that requires exploration and agreement across different generations.
It is important to remember that structuring a legacy is not the same as structuring the transfer of wealth across generations. As Bernard Fung, Head Wealth Planning Services Asia Pacific at Credit Suisse, says: “The legacy is the end, with wealth being the means to the end.”
“I see wealth as an opportunity to give back to others.”
Valerie Rockefeller, Chair of the Board of Directors at the Rockefeller Brothers Fund, fifth generation family member
“I want a more sustainable world where people can keep enjoying its beauty.”
Juan Boluda Soler, Co-founder and COO of ClimateCoin; YIO member
“I want a world where we use technology to solve problems rather than create profits.”
Pietro Fabiani, NVIDIA business development team; YIO member
Impact investing: Building bridges across generations
The next generation of investors, have a clear vision when it comes to investments. They want to make and see impact. Valerie Rockefeller, Chair of the Board of Directors of the Rockefeller Brothers Fund, and Justin Rockefeller, Co-Founder and Chairman of The ImPact; Global Director of Family Office at Addepar, discuss complexities of creating value for shareholders and wider society at the same time with Viola Steinhoff Werner, Head Global Next Generation and Families, Credit Suisse, and Iqbal Khan, former CEO International Wealth Management at Credit Suisse.
Read the article
The Next Generation's ambitions
are interested in actively steering their family’s wealth and being involved in structuring the family’s legacy
would prefer the family’s banker to provide them with a curated selection of people or programs to support their wealth, business, legacy or family goals
Source: Global Next Generation Report, results of a 2018 survey of over 200 Next Generation leaders
"Our experience shows that when the Next Generation are ready to manage the family wealth, they might not necessarily continue with how it was done in the past. Families need to discuss this openly and constructively and perhaps involve advisors to help steer the process." Helman Sitohang, CEO Asia Pacific, Credit Suisse
Find a sparring partner
Getting the conversation going about the “scary” big questions is not easy. The NextGen want to have a sparring partner at their side to help them responsibly align their needs with the broader needs of society. For them, when it comes to their wealth manager, being able to forge a close relationship is their highest priority, as they need a bank that is collaborative and entrepreneurial.
Credit Suisse understands that the NextGen are looking for advice and support in a wide range of areas and that the key ingredient of any relationship is trust — something that can only be built over time.
“We expect a bank to do more than simply manage wealth.”
Anton Szpitalak, CEO and Founder Tribe Breweries; YIO Director of Membership 2017-2019
“As soon as I was introduced to the concept of impact investing, I knew this was what I wanted to do.”
Fernando Scodro, CIO WEcubed; YIO President 2017-2019
Investing for return and social impact - investing in the NextGen
How the NextGen should be able to do well and do good and not just to create wealth to then give it away later. Watch the PWM interview with with Fernando Scodro, CIO WEcubed; YIO President 2017-2019, and Louise Huterstein, CEO, Pursuit Hospitality; YIO Vice President 2017-2019
“Investor surveys show that the awareness of and willingness to consider impact investing linearly declines with age, so it is the Next Generation that is really carrying the mantle here.” Marisa Drew, CEO Impact Advisory & Finance Department, Credit Suisse