WealthX-2019年家庭财富转移报告（英文）-2019.8-28页_2mb

Summary of A Generational Shift: Family Wealth Transfer Report 2019

Core Content

This report by Wealth-X explores the growing significance of family wealth transfer, examining the scale, challenges, and future implications of transferring wealth to the next generation by 2030. It highlights the increasing awareness among the wealthy and the industries that serve them about the importance of structured wealth transfer. The report also delves into the characteristics of the next generation of inheritors, the differences in wealth transfer approaches by region and wealth tier, and the complexities involved in the process.

Key Findings

• Growing Awareness: There is a heightened awareness of the importance of family wealth transfer, with more wealthy individuals and the industries that serve them prioritizing this issue.
• Expected Wealth Transfer: By 2030, $15.4 trillion of wealth is expected to be transferred by individuals with a net worth of $5 million or more.
• Number of Transferring Individuals: Approximately 550,000 individuals will be involved in the transfer process, with an average of $28.2 million passed on per person.
• Regional Distribution:
  • North America will account for over half of the global wealth transfer, with $8.8 trillion expected.
  • Europe will transfer $3.2 trillion, making up just over a fifth of all transfers.
  • Asia will account for 12%, totaling $1.9 trillion, due to a younger wealthy population.
  • Middle East and Latin America and the Caribbean are expected to transfer $580 billion each.
• Wealth Tiers:
  • Ultra High Net Worth (UHNW) individuals (net worth over $30m) will transfer $10.5 trillion, an average of $153 million per person.
  • Very High Net Worth (VHNW) individuals (net worth $5m–$30m) will transfer $5 trillion, with an average of $28.2 million per person.
• Next Generation Characteristics:
  • The next generation is global, digital, and values impact.
  • They are more likely to seek meaning in wealth usage and are concerned about the social and environmental impact of their inheritance.
  • They differ from their elders in outlook and approach, with a greater interest in impact and responsible investment.
• Challenges in Wealth Transfer:
  • Business succession is a major challenge, with many entrepreneurs reluctant to cede control.
  • Property transfer involves complex tax considerations and emotional challenges.
  • Philanthropy is increasingly important, with a focus on conscious legacy building.
  • Family cohesion and trust are essential to successful planning, as conflict can arise from unclear expectations and assumptions.

Main Points

• Wealth Transfer is a Process: It is not a one-time event but an evolving process that requires ongoing discussion and adjustment.
• Interpersonal Dynamics: The transfer process involves multiple stakeholders, including spouses, children, siblings, and advisors, which can complicate planning.
• Globalization of Wealth: Wealthy families are increasingly global, which adds tax and legal complexity.
• Early Planning is Critical: Many wealthy individuals are now transferring wealth before death, often to prepare the next generation.
• Need for Adaptation: The external environment, including political and economic changes, requires continuous adaptation and strategic planning.

Key Recommendations

• Early Conversations: Providers should initiate discussions with clients early to understand their needs and expectations.
• Tailored Strategies: Planning strategies must be customized to the age, gender, and wealth tier of the individual.
• Systematic Approach: Organizations should adopt a systematic and long-term approach to wealth transfer.
• Understanding the Next Generation: It is crucial to engage with the next generation and understand their values and goals.
• Philanthropy and Responsibility: Wealthy individuals are increasingly interested in impact and responsible investment, which should be integrated into transfer planning.

Methodology

• The report uses an updated Family Wealth Transfer Model and the Wealth-X Database, which includes curated research and intelligence on high net worth (HNW) and ultra high net worth (UHNW) individuals.
• The data is pre-taxation and pre-regulatory, and the total may not equal the global total due to rounding.

Conclusion

Family wealth transfer is a complex and evolving process that will significantly impact industries and generations. With the expected $15.4 trillion transfer by 2030, the need for systematic planning, trust-building, and understanding the next generation's values has never been greater. The global and digital nature of the next generation, combined with increased awareness and changing expectations, will shape the future of wealth transfer.