Executive Summary

With $68 trillion in assets set to transfer to younger generations over the next 30 years, wealth managers who target high-net-worth individuals (HNWIs) must adapt by using digital solutions to enhance their existing white-glove services—not replace them.

3 KEY QUESTIONS THIS REPORT WILL ANSWER

• What is the current state of the HNWI demographic?
• How are the pandemic and wealth transfer affecting the audience of wealth managers targeting HNWIs?
• How can wealth managers augment their existing services with digital solutions to better serve clients moving forward?

WHAT’S IN THIS REPORT? This report examines the key characteristics of high-net-worth consumers in the US—which is home to the highest number of HNWIs worldwide—and their financial services needs. It looks at how the HNW investor-wealth manager relationship has changed in recent years and how it will evolve amid a massive generational wealth transfer. And it identifies three major trends that will dictate how providers serve HNWIs going forward.

KEY STAT: Even a bearish forecast scenario of worldwide HNWIs’ wealth will see this group’s capital grow from $71 trillion in 2020 to $83 trillion in 2024, while the base forecast expects growth from $76 trillion to $101 trillion in the same period, per management consultancy Oliver Wyman.