How UHNW Millennials approach investing decisions
“ In my general portfolio, I'm happy to take less of a role, but when it comes to impact investing, I like to take part personally. ”
— West Coast Millennial, Early 20s, 2nd Gen.
The Role of UHNW Millennials in the Family Office
Less than 1/5 of UHNW Millennials are making strategic decisions for their family’s wealth management1.
Committee or Board Member
When UHNW Millennials take over decision-making roles for their families, impact investing – which looks to benefit society while generating returns – will be their vehicle of choice.— Ned Dane, Head of Private Client Group
“ I have kids and it’s important to identify values as a family and keep those values going from generation to generation. ”
— East Coast Millennial, Mid-30s, 3rd Gen.
How Family Shapes Millennials' Investment Choices
UHNW Millennials view themselves as stewards of their family's legacy and wealth.
Millennials’ adult lives have been shaped by two hundred-year storms – the Internet Bubble and the Financial Crisis. As a result, they’re broadly more conservative than their parents and are focused on wealth preservation.— Ned Dane, Head of Private Client Group
Who UHNW Millennials Listen to Most on Investment Decisions
Millennials believe financial advisors are essential for guiding their family's views and investment decisions.
- Impact Investing
- Environmental, Social and Governance
- Articulating and Defining Goals
- Conflict Resolution Mechanisms
“ My advisor gave me the framework to understand how to think about investing. ”
— Canadian Millennial, Mid-20s, 3rd Gen.