Recent years have seen a transformation of the global wealth landscape. A quarter of a century ago, a large proportion of the world’s wealthiest individuals owed their riches to inheritance. Today, entrepreneurship and business ownership have exploded as sources of wealth.
Residents of the United States, please read this important information before proceeding
Please read this important information before proceeding.
Recent years have seen a transformation of the global wealth landscape. A quarter of a century ago, a large proportion of the world’s wealthiest individuals owed their riches to inheritance. Today, entrepreneurship and business ownership have exploded as sources of wealth. Wealth has also become more globally distributed, and mobile. Technology and globalisation have enabled business ideas to be scaled and replicated at unprecedented speed, presenting ambitious business owners with the opportunity to grow their business — and wealth — extremely quickly.
Such a changing landscape is prompting a growing number of wealthy individuals to think more carefully about the purpose of their wealth. This is taking wealth management away from a narrow focus on optimising risk and return on investments toward a more holistic perspective on how to apply it across the full spectrum of the individual or family’s long-term goals and objectives.
This means thinking not only about investment but also about legacy, intergenerational wealth transfer and philanthropy. These concepts are increasingly becoming engrained in the way in which many wealthy families think about planning, in both developed and emerging markets. In particular, there is a clear link between the rise of entrepreneurship and a growing focus on more active, engaged philanthropy that draws on business skills and time commitment, as well as financial donations. Sharing wealth with family, friends and charitable organisations is only one part of the wealth journey. But as both research and experience are increasingly showing, it can be among the most fulfilling. For this reason, wealth should be considered as much about the qualitative aspects as it is about the quantitative.
For more information or to be involved in the next report, email firstname.lastname@example.org
Tel. 0800 851 851 or dial internationally +44 (0)141 352 3952
For further information about Barclays, please visit our websites www.barclays.com/wealth and www.barclays.com/insights