The Next Generation of Wealth Holders in the United States 2022 explores the views of 100+ next generation ultra-high-net-worth wealth holders (Next Gens), all of whom have recently or will shortly assume control of the family wealth.
The findings show that Next Gens are eager to engage in their family business / family office, but that their family members’ roles and responsibilities (41%) and concerns over business strategy (36%) sometimes pose obstacles to a smooth wealth transfer.
Despite these concerns, Next Gens have an appetite for growth and vision for shaking up the family enterprise. Once in control, 27% plan to shift towards alternative investments (e.g., private markets, hedge funds, commodities), while another 24% want to integrate new technologies (e.g., blockchain, artificial intelligence) into the family office. The report highlights that Next Gens are advocates of sustainable investing, with 68% asserting that sustainable investing has become a permanent feature of the investment landscape and 56% already actively investing in the space.
The 2022 Next Gen study also includes 12 in-depth interviews with Next Gen family members and three in-depth case studies from successful Next Gens who share their personal stories.