That’s a topic of a white paper out by UBS. According to a Swiss bank, Wall Street is during a hill of a large send of wealth, a likes of that has never been seen.
Older millennials are entrance “peak income” age and Baby Boomers, a era innate following WWII, are set to pass on trillions of dollars of resources in a entrance years to younger generations.
In only 3 years tellurian millennial resources could mount during $24 trillion, according to UBS, adult $7 trillion from 2015.
Millennials are about to advantage from “one of a largest intergenerational resources transfers in history,” according to Tom Naratil, boss of UBS Americas, and Jürg Zeltner, boss of UBS Wealth Management.
As such, a bank believes “it is critical” that Wall Street firms compensate courtesy to millennial-specific tastes when it comes to resources management.
Following are a 3 preferences a bank thinks Wall Street firms should cruise when moulding their offerings to attract people in a millennial generation.