Redefining wealth and success

The report reveals a shift in how these affluent families perceive wealth and success. A significant 90% of the principals interviewed believe that true wealth is not merely monetary but encompasses time, health, and relationships. Nearly 85% of these individuals define success through their ability to help others and lead with values. Andrew L. Cohen, Executive Chairman of J.P. Morgan's Global Private Bank, highlights this paradigm shift: "Principals remind us that prosperity is about much more than financial capital. Their perspectives challenge us all to rethink what it means to build enduring wealth, placing purpose, connection, and stewardship at the very heart of their journey."

This focus on values and relationships is echoed across continents and generations. The principals stress the importance of legacy, leadership, and the impact made on others, underscoring a broader understanding of prosperity.

Navigating geopolitical risks

Geopolitical tensions emerge as a prominent concern among these wealthy families, with 63% citing it as their top worry. The report highlights anxieties about global conflict, market volatility, climate change, and the disruptive potential of artificial intelligence. Natacha Minniti, Head of 23 Wall International and Global Co-Head of Family Office Practice at J.P. Morgan Private Bank, points out, "In APAC, where proximity to geopolitical flashpoints is a lived reality, families are shifting focus from preservation to preparedness. With 67% citing geopolitical tensions as their top concern, the call for agile, diversified, and future-ready strategies is louder than ever."

These concerns are not just limited to global events but intersect with personal and societal anxieties, such as the future of work and wealth disparity.

Balancing AI opportunities with human judgment

Artificial intelligence is rapidly reshaping both personal and professional spheres for the world's wealthiest families. According to the report, 79% of principals use AI for everyday tasks like research, writing, and travel planning, while 69% leverage AI for business purposes, such as data analysis and strategic planning. However, there is a cautious approach to this technological integration. Cohen observes, "AI is opening new doors for families and their enterprises, but true success lies in balancing innovation with discernment. Technology is a powerful enabler, yet it’s human values and judgment that create lasting impact."

While many principals appreciate AI's potential to save time and enhance decision-making, they also emphasise the enduring need for human insight and context.

Evolving investment strategies

The investment strategies of these affluent families are also evolving, with 75% diversifying globally and showing a rising interest in private and specialty assets such as sports teams, art, and cars. Cohen notes, "Ownership has evolved from a hobby into a sophisticated business and a unifying force for families, offering both financial returns and opportunities for community impact. Even luxury collectibles, once held purely for enjoyment, are now sometimes used as collateral to meet liquidity needs."

This shift reflects a broader trend where families are not only seeking financial returns but also meaningful engagement and legacy. Investments in specialty assets are driven by genuine passion and a desire to make a lasting impact, demonstrating that passion and purpose are as important as profit in today’s wealth management landscape.

Philanthropy and legacy

Philanthropy plays a central role in the ethos of these wealthy families. Over 70% of principals are deeply engaged in structured and accountable giving, viewing it as a way to unite the family and inspire future generations. As one principal shared, "When I think about my legacy, I think about giving back." This dedication to philanthropy underscores the belief that true wealth is measured less by financial capital and more by the legacy of values, relationships, and impact left behind.

The report by J.P. Morgan provides an invaluable look into the evolving priorities of the world’s wealthiest families, highlighting a shift towards values-driven leadership and the integration of innovation with traditional principles of stewardship. As these families navigate an uncertain world, their focus on purpose, connection, and resilience offers lessons for anyone seeking to build enduring wealth with lasting impact.