Wealthy Americans Shift for $124 Trillion Transfer as 77% of Ultra-Rich Favor Private Markets
Updated
Updated · Wealth Professional · Jun 18
Wealthy Americans Shift for $124 Trillion Transfer as 77% of Ultra-Rich Favor Private Markets
1 articles · Updated · Wealth Professional · Jun 18
Summary
$124 trillion in expected intergenerational transfers is pushing wealthy Americans to rethink wealth plans, with more than 90% saying longevity now shapes financial decisions, Bank of America Private Bank found.
77% of investors with at least $25 million said private markets can outperform public ones, while Gen Z and millennials are moving further from traditional portfolios with 15% in alternatives and 13% in cryptocurrency on average.
23% of wealthy business owners said they inherited their company, up from 5% in 2022, as family firms change hands more often and rely less on personal or family funding.
20% of wealthy business owners have a fully documented succession plan even though 78% call it important, underscoring a planning gap as more firms pass within families.
52% of the ultra-wealthy use credit strategically, and nearly one in four people with $10 million or more have borrowed specifically to support generational wealth transfers.