To strengthen its US position, UBS is focused on the transfer of wealth between baby boomers to their heirs in the coming years.
. The bank is diversifying its adviser workforce, in terms of age and race, and organizing events for multiple generations of wealthy families.
About $18 trillion will be passed to younger generations in the US over the next seven years, and as much as $84 trillion over the next two decades, UBS estimates. “Over the next 20 years, we’ll see the greatest transfer of wealth in history,” said Khan, who joined UBS from Credit Suisse in 2019. “That presents a huge opportunity for us to serve a whole new generation of clients.”
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