According to the results of a recent survey, half of investor respondents feel underprepared for the transition of wealth across generations, with 45% of survey respondents saying that planning for wealth transfer has become more challenging, up almost 15% year over year.
The sixth edition of the EY Global Wealth Research Report is based on data from nearly 3,600 investors ranging from mass-affluent to ultra-high-net-worth investors. Nearly two-thirds (64%) of respondents perceive preparedness for estate transitions to the next generation as very important, while only 28% have been adequately engaged by their adviser on wealth transfer issues.
Age, demographic and wealth status do not influence how prepared investors feel about wealth transfer, with Boomers no better prepared than younger generations. Similarly, the proportion of clients feeling “somewhat prepared” is consistently between 37% and 39% for clients across wealth levels.
According to the survey, the challenges of an uncertain and volatile market have prompted more than half (52%) of respondents to seek additional guidance on their investments, and 44% are exercising more control over their portfolio. More than half (57%) of clients said their adviser is only somewhat preparing them or not preparing them for political instability risks, and 52% of clients indicate their adviser is only somewhat preparing them or not preparing them for market volatility.
EY’s research shows that “despite economic headwinds in recent years, wealthy clients are largely satisfied with their wealth management providers,” said Jun Li, EY’s Global and Americas Wealth and Asset Management leader, adding, however, that the research shows that clients “perceive complexity around their wealth to be increasing, and many feel unprepared for market volatility, geopolitical uncertainty and also critical areas like wealth transfer.”
He noted that wealthy clients across demographics and regions are “actively seeking more holistic guidance and adviser interactions.”
“In the current climate, it is not enough to simply satisfy clients anymore,” Li said. “Wealth managers that can expand their scope to bring clients a combination of personalized products, advice and ancillary services will be the ones that can differentiate in a crowded market.”
The study results also indicated that digital asset investing is moving into the mainstream, driven by the authorization and launch of exchange-traded products and supportive regulatory changes. Looking ahead, (87%) institutional investor respondents anticipate further investments into ETPs and spot cryptocurrencies in 2025, and 84% of respondents are using or showing interest in stablecoins, reflecting growing confidence and the perceived long-term potential of digital assets.
According to the survey, one-third (33%) of respondents now hold digital assets, including cryptocurrencies, non-fungible tokens and tokenized assets. This figure notably rises to 48% among millennials, indicating a generational shift toward embracing digital investments. Use of cryptocurrency trading platforms grew from 11% to 15% (2023 to 2025 respectively).
Despite surging popularity, regulatory uncertainty (52%) and volatility (47%) remain top client concerns.
The appetite for usage of artificial intelligence varies as 60% of investors expect their provider to incorporate AI into their offering, with millennials and GenX showing higher expectations (75% and 62%, respectively) compared to baby boomers (36%). This is also reflected regionally, with higher expectations in Asia-Pacific (72%) and the Middle East (71%), but lower in North America (48%).
Despite growing familiarity with AI tools, with 28% of respondents trusting AI as much as their adviser, data privacy and security concerns are prevalent, with more than half (51%) expressing doubts about security of personal data and 47% worrying about data misuse.
The lack of human interaction is a chief concern for respondents in North America (46%) compared to 35% in Asia-Pacific.
