Understanding the wealth management needs and expectations of the next-generation UHNW clients

UHNWIs will bequest about USD 3.9 trillion of assets to the next generation in the coming 10 years. For banks active in the UHNW segment, these changes may significantly affect their strategies and business models, but there is a lack of scientific research that specifically examines the next-generation UHNWIs' needs and expectations regarding their wealth management relationships. Thus, this thesis aims to address this research gap by conducting and analysing in-depth interviews with eight next-generation UHNWIs. It is found that digital banking services as well as events are the most important factors for next-generation UHNWIs when they are selecting their banks.