wealth transfer

A Raymond James survey of U.S. business owners reveals a strong intent for succession planning, with 88% planning to transition their stake within a decade. Many owners have high asset concentration in their businesses and anticipate needing growth capital, with private equity and bank loans being top funding considerations. While family succession is a common goal, a potential blind spot exists regarding human capital and next-generation leadership readiness.

UBS reports significant wealth creation, especially in China. The nation is averaging 380 new millionaires daily in 2024, fueled by economic growth, and is projected to add over 5 million more by 2029. Globally, the US adds around 1,000 new millionaires daily. Moreover, a “Great Wealth Transfer” of over $80 trillion is underway, with women poised to become significant beneficiaries, potentially influencing future investment trends.