Surveys
HNW Families Accelerate Wealth Transfer, Highlight Need For Guidance – Study

Everyone talks about intergenerational wealth transfer, but it is still useful to see data on how fast this is now proceeding and what the implications are. A new study from Capital Group adds to the mix.
A survey of 600 high net worth individuals in Asia-Pacific,
Europe and the US finds that they’re speeding up their transfer
of wealth to heirs. Inheritors are receiving wealth at a younger
age than in the past.
The data, collected by Capital Group, showed
that almost half (47 per cent) of wealth holders inherited
directly from their grandparents, a majority (55 per cent) having
received between $1 million and $25 million. In Hong Kong, an
even higher proportion (56 per cent) are inheriting directly from
their grandparents than the global average, the figures
showed.
Intergenerational wealth transfer – comprising tens of billions
of dollars/equivalents from the passing generation of Baby
Boomers and younger – is a ubiquitous topic in wealth management.
With reports noting that some HNW inheritors are often likely to
fire their parents’ advisors, firms are understandably
determined to connect with the Next Gen.
“Trillions of dollars are estimated to be transferred from Baby
Boomers across the US, Europe, and developed Asia to younger
generations in coming decades. Millennials and Generation Z are
receiving larger inheritances at a younger age and could benefit
from a financial advisor’s market insights and long-term
investment perspective,” Guy Henriques, president (main picture),
Europe and Asia client group at Capital Group, said.
“Finfluencers”
Globally, Millennials are more likely to turn to social media and
“finfluencers” for investment advice when they inherit (27 per
cent) than to financial advisors (18 per cent). In Hong Kong,
they are also more likely to use social media than financial
advisors.
Almost two-thirds (65 per cent) of Gen X and Millennial
inheritors in the research say that they have regrets about how
they used their inheritance money, with nearly two in five
wishing they had invested more.
Three quarters of wealth holders report challenges in
communicating succession planning.
Some 61 per cent said they rely on lawyers and 49 per cent on
accountants to handle succession matters, while only about 15 per
cent use financial advisors. The survey also found that 79 per
cent will leave no specific wish on how their inheritance must be
used.
The study found that APAC inheritors are even more hands-off (82
per cent) in their succession planning.
Singapore
Among Singapore-based inheritors, to give an example of a
specific jurisdiction, 54 per cent of them are receiving wealth
directly from their grandparents. Some 12 per cent of wealth
holders in the city-state (versus 23 per cent globally) make use
of finfluencers. A large number – 68 per cent – of Singaporean
inheritors think that AI and other technologies will improve
financial advice.
The Capital Group study was conducted by Financial Times
Longitude in February and March 2025.