This year has forced some quick thinking among wealthy investors as market volatility and economic uncertainty have rewritten plans, but wealth transfers appear to be on track.
High net worth clients are remaining focused on their gifting goals according to the latest Schwab HNW Client Pulse Survey which reveals that 51% of those with at least $1 million in investable assets plan to gift some of their wealth in 2025. A quarter are planning to gift more than they had planned while just 7% say they will gift less.
Over the next five years, 57% said they will gift some of their assets, while 74% plan to do so within their lifetime.
Most (59%) respondents say they are bearish on their market outlook but around half of these also feel confident that they have the right plan to withstand any market correction and 67% are confident in their decision making.
“HNW investors may be cautious about the markets, but they’re still acting with intention and making decisions that align with their long-term goals, whether that means giving now or planning to transfer wealth over time,” said Susan Hirshman, Director of Wealth Management for Schwab Wealth Advisory and Schwab Center for Financial Research. “Confidence doesn’t always mean optimism about the market, but it does mean having clarity in your strategy and financial plan, and the discipline to follow it.”
But where is the wealth going?
Most respondents said their close family will be the beneficiaries, with 84% citing their children (91% said children over 18) and around half have already had, or plan to have, conversations with their children about this.
While cash continues to be the most prevalent method of giving, nearly 25% of high-net-worth clients intend to transfer investments—demonstrating a strategic use of appreciated assets to help minimize capital gains and estate taxes as part of broader tax and estate planning.
However, gifting decisions aren’t solely driven by tax efficiency. The leading reasons HNW individuals give include providing general financial support to family (66%), facilitating estate and tax planning (34%), and contributing to educational expenses (30%). Additionally, 21% are motivated by a desire to assist with major life events, such as weddings, home purchases, or launching a business.
“Gifting is about more than passing down wealth—it’s about passing down purpose,” said Hirshman. “Yes, tax and estate strategies are important, but the conversations around gifting often center on values, legacy, and preparing the next generation to be thoughtful stewards of what they receive.”
Chicago-based Mesirow Fiduciary Solutions adds flexPATH's plan-level outsourced fiduciary book, boosting its retirement market reach to $164 billion.
Also, Raymond James's employee advisor channel adds breakaways from Wells Fargo and Stifel, while UBS welcomes an ex-Morgan Stanley duo in Indiana.
It promised guaranteed principal and 10% monthly returns. The SEC says it invested nothing.
Ten years after entering the fee-based annuity market, MassMutual Ascend says nearly half its lifetime sales came in the past two years alone – but barriers remain among fee-only advisors.
Amplify, WealthReach, Zeplyn and Zocks have unveiled partnerships aimed at automating portfolio management, content creation, account opening, and client communication.
Northern Trust’s Ken Lassner shows advisors how to convert volatility into after-tax portfolio gains
Dan Biagini of American Equity says the steady decline of pensions, longer lifespans and a reset in interest rates are rewriting how advisors build retirement income
