Here's what young wealthy Kenyans are doing to protect their investments amid global economic uncertainty.
Young Kenyans are looking for the best investment opportunities and financial advisors to assist them along the way. With increasing wealth and a desire for security, many young people are turning to wealth advisors and managers for help in making sound investment decisions.
According to the Standard Chartered Wealth Expectancy Report 2022, professional wealth managers are used by 63% of young investors worldwide (ages 18–35). According to the report, younger investors are more likely than older investors to use professional wealth managers. Asset managers such as banks and fund managers are also entering the wealth management space, offering personalized portfolios that are tailored to the unique needs of each individual investor. The demand for wealth managers and consultants comes at a time when young Kenyans are concerned about inflation, global economic uncertainty, and the possibility of a recession. They hope to secure their financial future, prioritize their retirement savings, and provide for their children's education and future with proper wealth management.
Family wealth consultants are also gaining popularity among young Kenyans. Many business owners and parents are seeking their assistance to ensure the successful succession of wealth and to avoid family feuds. These consultants assist families in developing healthy relationships and collaborating to preserve their wealth for future generations.
The newly wealthy Kenyans seek to grow and sustain their wealth, to make their families work when wealth is involved, and to ensure that their family enterprise will care for their families after they die. They hope to save for retirement, prioritize their children's education and future, maintain their lifestyle and health, and ensure consistent cash flows with proper wealth management.