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Shining a spotlight on the Great Global Wealth Transfer

Transfer of wealth between generations

The coming decade will see an unprecedented transition of family wealth between generations globally. As senior wealth-holders look to hand over the reins of family fortunes, effective wealth transfer is becoming a priority among both wealthy families and those industries that serve them.

According to recent Wealth-X research, by the year 2030 it is expected that $15.4 trillion of wealth will have been handed down by individuals with a net worth of $5 million or more – with much of this wealth changing hands within the next five years. The coming wealth transfer will be carried out by almost 550,000 individuals, with an average of $28.2 million being passed on by each person.

Having worked closely with wealthy individuals and family offices for 50+ years, IQ-EQ wished to shed further light on this so-called Great Global Wealth Transfer and related themes and trends. In partnership with Barton Consulting and using Wealth-X data intelligence, we have launched a signature white paper on the subject, which can be downloaded here.

In support of this launch, we held an innovative virtual conference on 15 and 16 July, featuring a number of expert speakers from the private wealth and family office spheres, as well as a virtual exhibition hall with a series of themed ‘booths’ where lots of insightful follow-up discussions took place in chatroom form.

After a brief welcome and introduction from Steve Sokic, our Group Head of Private Wealth, he handed over to Maya Imberg, Director of Wealth-X, who discussed the scale and regional variances of the Great Global Wealth Transfer.

After Maya set the scene and context, Steve opened up the conversation and moderated a lively panel discussion. Featuring alongside Maya on the panel we had:

Together, the panel discussed the five main themes taken from the findings of the white paper:

  1. The globalisation of wealthy families and their assets will continue, as will the need to structure their assets to mitigate increased risks that come with increased cross-border exposure
  2. The emergence and impact of family offices as the new form of wealth stewardship continues at pace
  3. Private equity and venture capital are the most appealing investment sectors for the next generation
  4. More and more wealthy families are asking about ESG and impact investing
  5. Wealthy families and their family offices are using technology to manage information to make their lives easier and simpler.

The session closed with a jam-packed Q&A session before guests were directed to the exhibition hall to carry on the conversation.

For those who missed it, you can now watch the full event presentation and panel discussion below: