Succession? Survey finds 66% of ultra-rich’s young heirs not ready to take over

Global ultra-rich families worry more about wealth succession than political uncertainty, as most of their next generation are not yet well prepared for the trillions of dollars’ worth of transfer, a survey by Julius Baer showed.

The findings came after the Swiss private bank and its partner EY analysed responses from more than 700 financial professionals worldwide who advise ultra-high-net-worth (UHNW) families with wealth of 50 million Swiss francs (US$60.7 million) or more in the latest...