I’m still taking in all of the insights in The Future Laboratory‘s report (https://lnkd.in/gWB4QyU9).
Some things that caught my eyes.
– Boomers: 2/3 of family-owned businesses have no succession plan in place.
– Millennials: As they inherit wealth, they are beginning to move wealth advisory relationships if their current advisor doesn’t have strong practices in place around Environmental, Social, Ethical, Moral, and Climate (ESG) issues.
– Gen Z: “…only purchase from companies where they know the money is going to…” – more transparency required. Willing to get involved and have been named the Z-Suite.
Philanthropy and Development professionals, what do you make of this?
How are you engaging today the younger generations poised to inherit wealth?
Given the Z-Suite insights and Gen Z’s side hustle spirit, has the time for Young Professionals groups finally come?
Do Millennial’s expectations mean generative performing arts organizations will need to purchase carbon offsets? Partner more strategically with ESG-aligned businesses and organizations?
Send me an email to share your perspective and help me sharpen my own. Or, comment with others at LinkedIn.
#philanthropy #nonprofit #wealthtransfer #generationalchange
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