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How millennials are set to transform family office investing

Millennial investment priorities

As we enter a new decade, family offices and wealth managers are facing the largest generational wealth transfer of all time, with $68 trillion expected to transfer hands in the next 25 years.

Soon, we will see a new generation controlling family investment decisions – and with a very different approach to that of their predecessors. This transfer will not only modernise and transform family offices, but will have a knock-on effect on the firms who support and advise them.

The younger generation differ from their parents in their desire for technology-led solutions and responsible investing. They want everything to be available instantly on their phones and expect access to real-time reporting on their investments. They also want their investments to make a positive impact on the environment and society. They are very concerned about doing the right thing and do not want to invest in a harmful way.

If financial advisers and service providers fail to break with the past and adapt to these changing demands, they could risk damaging long-held client relationships and missing out on significant business opportunities throughout the 2020s and beyond.

In my latest article, published by FT Adviser, I discuss in more detail this generational shift in investment priorities and the evolution starting to take place within the investment industry as firms strive to remain competitive and retain client relationships as the next generation takes the helm. Click below to read my article in full:

Read FT Adviser article