Future-Proofing Wealth by Investing in Tomorrow's People
Investing in the fast-moving world of work, an under-recognised frontier, will likely prove a key strategy for the portfolios of wealthy families.
We are in the midst of the largest wealth transfer in history: nearly $124tn will change hands before 2048, with Millennials and Gen Z set to inherit the lion’s share.
These generations are digital-first, values-driven, and increasingly attentive to how their capital shapes the world.
According to a report by Bank of America, 82 per cent of next-generation investors factor environmental, social and governance (ESG) considerations into their decisions.
Much of this focus has been channelled into climate solutions, and rightly so. But for wealth managers, the future of work is an equally urgent and under-recognised frontier.
The US labour market is under strain.
According to new 2024 data from Oxfam, more than 39m Americans earn less than $17 an hour.
Author's summary: Wealthy families invest in the future of work.