Within the next 20 to 30 years, an estimated $70-100+ trillion of wealth will be transferred from either one generation to other or between spouses. This is probably the largest wealth transfer in modern history and is already underway. For family offices and wealth managers a critical question arises: how should we respond to the demands and expectations of this next generation of decision makers? In this blog, I focus on how those expectations are reshaping philanthropic services.

UHNW families are no longer focused on wealth preservation alone. Research across UBS, Campden Wealth, Pictet and private banks’ reports show a rising emphasis on legacy, social contribution, and values alignment, in which philanthropy is conceived not only as a tool for family identity but a mechanism for longer term relevance. Once capital has been growth and protected, families increasingly asked about its purpose: what is this wealth ultimately for? In this context, philanthropy is no longer conceived merely as charitable activity, but as a mechanism to define the long-term purpose and legitimacy of wealth.

This immediately leads to discussions about philanthropy and its governance implications. Not only because philanthropic purpose calls for a more professional and organized structure, but also because it is intertwined with other relevant issues such as succession planning, family constitution, voting rights, decision-making authority and cross border taxation, among others. In this sense, philanthropy stops being considered just charity and starts being part of how the family organizes decision making and governance. It shifts the mindset from “Philanthropy as doing good” to “Philanthropy as part of our identity and how we organize ourselves”. It often serves as a practical testing ground for generational transition.

In Europe, the more decisive driver of philanthropic change seems to be generational transition. Research based observations from Campden Wealth and UBS suggest that next generation of family members are more interested in impact, transparency, data and system level thinking. They usually ask, “Why this works?” rather than “Who else supports this?”. They want to measure and understand long term impact. At the same time, ambition for systemic change can sometimes outpace institutional readiness and often exceeds expectations on results. This may create tensions within existing family governance structures that might evolve in parallel philanthropic vehicles or reconsidering their advisory relationships.

As wealth increasingly concentrates in female hands - especially among globally educated next-generation inheritors - governance expectations are evolving. Studies from UBS, Bank of America Private Bank and Campden Wealth show that women influencing or controlling substantial wealth tend to engage directly in strategic and governance discussions. In Europe, we are entering a phase where female inheritors are more finance literate than previous generations, they are less deferential to inherited governance structures, and often more globally exposed. In other words, their education, career, networks, and experience extend beyond the home country and beyond the family business ecosystem. This is creating a terrain that is fertile for shifts and changes to inherited structures and ways of doing business and philanthropy.