SS&C Advent - APAC's Great Intergenerational Wealth Transfer
A historic transfer of wealth is underway Trillions of dollars are on the move.
Dubbed the Great Wealth Transfer, we are in the early stages of the largest intergenerational wealth transmission in history, as baby boomers pass on their assets to Gen X, millennial and Gen Z successors over the coming decades.
Projections for the size of the transfer vary. Analyst firm Cerulli Associates predicts US high-net-worth (HNW) and ultra-high-net-worth (UHNW) individuals will hand over $84.4 trillion to heirs and charities through 20452. Wealth data provider Wealth-X calculates that, across Asia, that figure will be $1.9 trillion. In Europe, individuals with $5+ million in net worth will pass on $3.2 trillion by 20303. Whatever the exact amounts, the sums are enormous.
The question for wealth managers in the APAC region is will they benefit?
Read the full article by SS&C HERE.