Sail the great wealth transfer, setting a course to win Next-gen high-net-worth individuals.
During 2024, growth in global high-net-worth individual (HNWI) wealth and population was robust – increasing by 4.2% and 2.6%, respectively.1
But the wealth management landscape is facing a fundamental transformation, with the defining dynamic being an unprecedented “great wealth transfer” to Gen X, millennials, and Gen Z individuals – or “Next-gen HNWIs.” In fact, a staggering USD 83.5 trillion in wealth is set to be passed on to these younger individuals by 2048.2
The World Wealth Report 2025 reflects the views of 6,472 high-net-worth investors, including 5,473 Next-gen HNWIs, across four regions: Americas, Europe, Asia-Pacific, and the Middle East. We also collected insights from surveys of 141 wealth management executives and 1,306 wealth management relationship managers; responses to both of these surveys included geographic markets across the Americas, Europe, and Asia-Pacific.
In addition, the report’s market-sizing model covers 71 countries, accounting for more than 98% of global gross national income and 99% of world stock market capitalization.
Next-gen HNWIs have distinct investment priorities, strong preferences for digital engagement, and appetite for value-added services – presenting challenges and opportunities for wealth management providers.
We’ve proposed a three-part strategy to help firms maintain their current business, while generating new revenue opportunities:
- Boost engagement to drive growth by providing robust and tailored high-net-worth investment strategies that ensure the right mix of capital preservation and growth.
- Delight Next-gen HNWIs by expanding personalized financial advice and wealth management offerings tailored to their needs, extending reach and fostering loyalty.
- Empower relationship managers with capabilities and digital tools to facilitate optimal high-net-worth wealth management client service and retention.
Implementing this approach will allow firms to engage effectively with Next-gen high-net-worth investors, address their specific requirements, and cultivate lasting loyalty throughout the great wealth transfer period.3
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1. Capgemini Research Institute for Financial Services Analysis, 2025.
2. UBS, “Global Wealth Report 2024”, July 9, 2024.
3. Capgemini Research Institute for Financial Services Analysis, 2025.
