Looking ahead...

The next 30 years will see the total value of global high net worth wealth transferred down through generations estimated to reach nearly US$16trn – the largest transfer of wealth in history.

For the recipients of this wealth comes both a wonderful opportunity but also significant responsibility. Speakers at HSBC’s Next Generation event in Geneva explored some of the key challenges that High Net Worth Millennials will need to tackle as they consider their futures.

And those challenges will be framed in the context of a rapidly changing global landscape, a world of volatility, uncertainty, complexity and ambiguity (VUCA). Those factors can be daunting when planning for the future but they will also offer opportunities.

From the starting the conversation with their families around succession to exploring investment strategies, and considering business opportunities, the message is clear – it’s never too early for the next generation to look to the future and start the planning process.

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