Preparation Builds Comfort For UHNW Families; Risk Priorities Vary – Study

Editorial Staff

17 June 2026

Planning for wealth transfer builds confidence while attitudes toward risk, such as geopolitics, tend to be higher among older UHNW individuals than their peers, a new study from Bernstein Private Wealth Management has found.

Based on responses from more than 100 Bernstein UHNW clients with an average net worth of $200 million, the study said it “finds a clear divide between controllable and uncontrollable factors.”

The study is an example of how wealth management firms set out the kind of differences between generations that can help shape advice and ensure that advisors are in tune with what clients want. The multi-trillion intergenerational wealth transfer under way is putting pressure on firms to ensure that they capture a meaningful chunk of money in motion.

Nearly two-thirds of respondents cite geopolitical and economic instability as major concerns, while confidence is highest in areas where families have more agency, including wealth preservation, philanthropic planning, tax strategies, and access to unique investment opportunities.

Bernstein, a unit of New York-listed AllianceBernstein, issued findings from the second edition of its Wealth Beyond Measure 2026 report.

“We’re seeing a meaningful shift in how ultra-high net worth families think about wealth and resilience that calls for a more modern, personalized approach beyond traditional investment management,” Aaron Bates, head of Bernstein’s UHNW and growth strategies, said.

Definitions

The report said that definitions of what wealth is are evolving: For 41 per cent of families, wealth means freedom and opportunity, while 33 per cent see it as a responsibility rooted in preservation and strong values. Baby Boomers are more likely to see wealth as a source of stability, while younger respondents see it as a source of flexibility and risk-taking.

Formal preparation is strongly linked to confidence. Nearly all high-confidence families say they have plans in place to prepare the rising generation for future leadership, compared with 61 per cent of low-confidence families. Education and sharing family history and lessons learned are the most common ways families prepare future leaders.

Concerns vary meaningfully by age. Thirty-eight per cent of respondents aged 50 to 64 cite the effectiveness of tax strategies amid policy changes as a key concern, compared with just 10 per cent of those aged 65 to 79. By contrast, concern about geopolitical and economic uncertainty rises with age, with 72 per cent to 80 per cent of respondents aged 65 and older reporting the highest levels. Younger cohorts aged 35 to 49 report the lowest concern across all external factors.

Estate planning activity is high, galvanized to a degree by the passage last year of the One Big Beautiful Bill Act. Twenty per cent of respondents say the new tax law prompted an estate plan review, with more than half reviewing their plans within the past year. Families with the highest confidence are also most likely to have made tangible plans.