La Jornada: For next heirs, the greatest wealth in modern history: UBS

Over the next two to three decades, an estimated $83 trillion in private wealth will change hands globally, representing the largest transfer of wealth in modern history, UBS estimated.

in his studio Global Next Generation Reportbased on surveys and interviews with more than 170 heirs of high-net-worth families in the world, the Swiss-based financial firm stated that two out of five members of the next generation associate inheritance not with receiving money, but with assuming responsibilities.

“The greatest transfer of wealth will be driven by an aging population, increasing life expectancy and decades of rising asset prices. This transformation is destined to reconfigure the wealth landscape as we know it,” he said.

However, Benjamin Cavalli, head of strategic clients and global connectivity at UBS Global Wealth Management, highlighted that, at its core, wealth transfer is more than a financial event. Tomorrow’s leaders and investors thrive in a world characterized by global mobility, rapid technological change, and evolving expectations around purpose and impact. They ask not only how wealth is transferred, but why and what role they are expected to play in managing the family legacy while forging their own path.

Timing is also crucial. Parents rarely entrust the management of their estate to their heirs at once. Most commonly, they do this in stages, starting with smaller portfolios, which expand as the confidence of the next generation grows.

The next generation is globally connected, better educated and more independent than any previous generation. However, what has not changed is their need for regular intergenerational communication, open dialogue for wealth transfer planning and confidence in their ability to achieve success on their own, said Michael Viana, director of wealth transfer, networks and client office at UBS Global Wealth Management.

Preparing the next generation for future roles in managing their wealth is a key priority for many families, especially those with business experience. While traditional trajectories, such as training in a specific field or sector, remain important, the next generation of business leaders and investors have access to a broader range of opportunities and often explore different paths early on.

In this process, networks play a fundamental role for long-term success, so they focus on building their own connections and seeking the right guidance to face their responsibilities and define their future role, explained Anastasia Deryagina, director of global solutions for the next generation.