U.S. High-Net-Worth and Ultra-High-Net-Worth Markets 2024
The Great Wealth Transfer: Capturing Money in Motion
Gain Insight into the Private Wealth Industry
- Determine how asset managers are engaging with professional buyers in the HNW space
- Evaluate shifting product and portfolio construction trends among HNW investors as they demand more customized, sustainable, and tax-efficient portfolios
- Understand evolving service and technology preferences among the next generation of HNW investors, including winning business models and best practices to engage clients
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Summary
This report provides insights and comprehensive analysis into the private wealth industry, focusing on high-net-worth (HNW) and ultra-high-net-worth (UHNW) individuals. Attention is given to the unique characteristics of investors with greater than $5 million in investable assets, including market sizing and growth trends, portfolio construction, product and service demands, and best approaches for both wealth management and asset management providers looking to attract and retain wealthy investors and their families.
A Note from the Author
$124 Trillion in Wealth Will Change Hands by 2048

Chayce Horton
Senior Analyst
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Chayce Horton
Senior Analyst
Chayce is a member of the Wealth Management team at Cerulli and contributes primarily to the U.S. Private Banks and Trust Companies and U.S. High-Net-Worth and Ultra-High-Net-Worth Markets annual reports. His analysis covers the wealth and asset management industries that serve high-net-worth (HNW) investors and families. Chayce also provides analyst support to strategic consulting projects in the wealth management space and contributes to The Cerulli Edge series.
Previously, Chayce has experience working in enterprise data governance, government affairs, and business banking at multiple global financial institutions.
Full biography here.
With trillions of dollars changing hands annually, the Great Wealth Transfer is in full swing. Cerulli projects that wealth transferred through 2048 will total $124 trillion—$105 trillion is expected to flow to heirs, while $18 trillion will go to charity. Nearly $100 trillion will be transferred from Baby Boomers and older generations, representing 81% of all transfers.
Amidst accelerating wealth transfers, it is critical for advisors, their firms, asset managers, and other industry participants to balance establishing best practices with current clients while shifting service and product strategies to the future profile of the high-net-worth demographic.
Gain access to The Cerulli Report—U.S. High-Net-Worth and Ultra-High-Net-Worth Markets 2024 to receive Cerulli’s updated wealth transfer sizing and discover approaches to address the needs of current clients and future opportunities. Learn the biggest trends shaping the HNW landscape and explore HNW practices’ top strategic initiatives for the coming year.
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Each report is lead authored by a senior Cerulli analyst with significant industry experience. The report incorporates qualitative and quantitative inputs, based on Cerulli’s proprietary research process. For more on our research process, click here.
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As Seen On Bloomberg TV
Coming Wave of Inheritance | Wall Street Week
Chayce Horton speaks with David Westin at Bloomberg about the increasing net worth coming from inheritance.

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