UHNW Millennials – A Generation Driven By Values

Experiencing the global financial crisis at a more impressionable age than other generations, ultra-high-net-worth (UHNW) Millennials – born between 1980 and 1995 – seem more broadly conservative than previous generations. In fact, other studies have hinted that Millennials seem to share commonalities with the Silent Generation that lived through the Great Depression.

Respondents to the Proving Worth study often referenced the global financial crisis as an influencing factor in their own understanding of finance. They professed that it not only played a major part in their own wealth and life decisions, but also influenced their views of the financial services industry.

Perhaps it is no wonder that philanthropy and investment ideologies based on certain values feature so prominently in the minds of Millennials generally, and UHNW Millennials in particular.

interest in value-based practices oppenheimerfunds

Source: OppenheimerFunds & Campden Wealth

Ninety-six percent of UHNW Millennials who participated in the study were interested, or very interested, in philanthropy. A respective 70% and 64% were interested, or very interested, in socially responsible investing (SRI) and impact investing.

In evaluating impact and values-based investing, UHNW Millennials focus on the long term and are results-driven. When assessing different approaches, 96% of participants identified long-term returns as important/very important, while a respective 95% and 91% ranked accountability and sustainability as important/very important.

Key issues for UHNW Millennials include basic human rights, education, water, the environment and gender equality. However, despite their strong interest in philanthropy and helping the world through investing, they are sometimes unsure about how to structure their activities – and they aren’t necessarily engaging in policy decisions for the family finances.

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