During the next two to three decades, an estimated $83trn in private wealth will change hands globally, marking the largest transfer of wealth in modern history. This process is already underway and reshaping family dynamics, investment priorities and advisory relationships, according to UBS Global Wealth Management.

Nearly one third of the next generation respondents surveyed shared that their families are already transferring wealth, with a further 25% either actively planning or planning with their advisors, a recent report by the wealth manager discovered.

Asia Pacific next generation family members are more likely to associate wealth transfer with the passing of a family member, in contrast with Europe and North America, where inheritance is more strongly associated with responsibility shift.

Amy Lo, chairman, UBS Global Wealth Management Asia, head and chief executive, UBS Hong Kong, said: “Across Asia Pacific, the next generation is approaching wealth transfer with a strong sense of stewardship, shaped by trust, expertise and long‑term outcomes rather than short‑term gain.”

“In a region where inheritance is often seen as a family milestone, traditional assets remain the anchor of next‑generation portfolios, while exposure is thoughtfully expanding into sustainability, private markets and impact.”

Apac families place stronger reliance on professional advice than their global peers, according to the report. When seeking guidance on succession planning, 72% of next generation respondents in Asia Pacific lean more toward wealth managers and family officers, compared with their counterparts in Europe and Latin America where peer networks play a larger role. 43% of Apac next generation think that their wealth manager is the most important source of advice for them.

“Connectivity also plays a decisive role, with close to 80% of next‑generation clients citing access to networks and global perspectives as the key differentiator when choosing a wealth manager,” said Lo.

41% of the global respondents prefer to continue working with the same wealth manager used by the family, with 79% highlighting the experience and expertise of the wealth manager/private banker as the top quality that they seek. Networking and global connectivity matters more than financial perks, with 78% of next gens identifying it as the key differentiating factor when choosing their wealth manager.

Meanwhile, impact investing is outpacing crypto. While traditional assets remain the backbone of next-generation portfolios with 79% investing primarily in stocks and bonds, nearly half are already invested or keen to learn more about impact and sustainable investing. By contrast, only 11% of active investors report exposure to cryptocurrencies. Interest in sustainability and impact is particularly strong among younger and female respondents.