Next-Gen Wealth: Preparing Millennials and Gen Z for the Great Wealth Transfer
07.07.2025
Original Publication
WealthTransfer
NextGenWealth
ESGInvesting
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WealthManagement
The world is witnessing the largest intergenerational wealth transfer in history. Over the next two decades, an estimated $84–90 trillion in assets will be passed down globally, with the majority of this wealth concentrated among high-net-worth and ultra-high-net-worth families (Cerulli Associates, UBS Global Family Office Report 2024). While headlines often focus on the US and Europe, this is a truly global phenomenon, impacting families with cross-border assets, international residences, and heirs on multiple continents.
Switzerland, as a leading center for international wealth management, is uniquely positioned to observe and support this transition. Families from around the world rely on Swiss expertise to navigate the complexities of succession, cross-border structuring, and the evolving expectations of Millennial and Gen Z heirs.
The Next Generation: More Than Just Inheritors
Millennials and Gen Z are not simply passive recipients of family wealth. They are already influencing decision-making within family offices and wealth structures, with Millennials dominating secondary and tertiary roles and Gen Z rapidly rising in involvement. Their approach to wealth is shaped by digital fluency, global citizenship, and a desire for purpose-driven impact.
Millennials alone are set to inherit over $46 trillion globally in the coming 25 years (UBS, 2024). This massive shift is already reshaping the financial landscape, with more billionaires now created by inheritance than by entrepreneurship.
Unique Expectations and Investment Preferences
1. ESG and Purpose-Driven Investing
Sustainability is not a buzzword for the next generation, it’s a baseline. Gen Z and Millennials expect their investments to align with environmental, social, and governance (ESG) principles, seeking both financial returns and positive impact. According to the UBS Global Family Office Report 2024, over 60% of Millennial and Gen Z heirs say that ESG factors are a top priority in their investment decisions. They are more likely to divest from companies that don’t share their values and to prioritize portfolios that support clean energy, social justice, and ethical governance.
2. Embracing Alternatives: Crypto and Beyond
Traditional stocks and bonds are no longer the only game in town. Younger investors show a strong appetite for alternatives, including cryptocurrencies, private equity, and digital assets. Many believe that above-average returns require thinking beyond conventional asset classes, and they are comfortable leveraging fintech platforms and AI-driven tools to manage and grow their wealth.
3. Digital-First Engagement
Next-gen high-net-worth individuals (HNWIs) expect seamless digital experiences from their wealth managers. They value transparency, real-time access, and personalized advice delivered through technology. According to Deloitte’s 2025 Next Gen Wealth Report, over 70% of Millennial and Gen Z heirs prefer digital communication and expect mobile-first solutions for portfolio management, reporting, and even family governance.
Educational Needs: From Financial Literacy to Legacy Planning
One of the greatest risks in this transition is the erosion of inherited assets due to lack of preparedness. Many younger heirs have had limited interaction with their parents’ advisors and may lack the financial acumen to manage complex portfolios. Family offices and wealth managers must prioritize:
• Financial education: Structured programs on investing, risk, and stewardship.
• Governance training: Involving next-gen members in family councils and decision-making.
• Values alignment: Facilitating open dialogue about family purpose, philanthropy, and legacy.
Coordinated Solutions for Complex Wealth
Navigating this landscape requires more than investment advice. It demands a coordinated approach, one that brings together legal, tax, structuring, and investment specialists to address the full spectrum of family needs. For UHNW families, the challenge isn’t just about growing wealth, but also about protecting it, simplifying complexity, and preparing the next generation for stewardship.
Key strategies include:
• Engaging early: Involve Millennials and Gen Z in investment and governance decisions well before the actual transfer.
• Tailoring strategies: Offer investment options that balance ESG priorities, alternative assets, and digital solutions.
• Empowering with tools: Provide next-gen heirs with access to cutting-edge platforms and personalized advice.
• Fostering connection: Build trust through mentorship, shared learning, and transparent communication.
Looking Ahead
As the great wealth transfer accelerates, families that embrace a holistic, coordinated approach will be best placed to thrive. The future of wealth management lies in partnership, bringing together the right expertise to support both today’s needs and tomorrow’s ambitions.
Switzerland’s tradition of discretion, stability, and cross-border expertise makes it an ideal base for guiding families through this transition, serving as a bridge between generations, continents, and evolving values.
To learn how we support next-gen succession and cross-border wealth planning, contact us.
References:
• Cerulli Associates, The Great Wealth Transfer, 2024
• UBS Global Family Office Report, 2024
• Deloitte Next Gen Wealth Report, 2025
