Half of Business Owners Do Not Want Their Children to Inherit, Run Business - Seite 3

Two out of five (39%) say their business has been an important source of meaning and purpose in their lives, and one in six (17%) say it is part of the legacy they want to leave.

“Whether the family discussion is about estate planning or business succession planning, what’s important is that everyone is aligned and there are no surprises,” added Liersch. “Without a thoughtful conversation and formal plan, assumptions can be made and disruption to the family dynamics are highly likely.”

About the Survey

On behalf of Wells Fargo, Versta Research conducted a national survey of 1,008 Wealth Creators, defined as U.S. adults, age 50 or over who have at least $1 million in investable assets, excluding those who inherited most of their assets. The sample included 136 respondents from Generation X (ages 50 to 57), 771 Baby Boomers (ages 58 to 76), and 101 from the Silent Generation (ages 77 or older). Data were weighted by age to match current population estimates of U.S. households with more than $1 million in investable assets, derived from the Federal Reserve Board’s Survey of Consumer Finances. The survey was conducted January 3–18, 2023. Assuming no sample bias, the maximum margin of error for full-sample estimates is ±3%.

About Wells Fargo

Wells Fargo & Company (NYSE: WFC) is a leading financial services company that has approximately $1.9 trillion in assets, proudly serves one in three U.S. households and more than 10% of small businesses in the U.S., and is a leading middle market banking provider in the U.S. We provide a diversified set of banking, investment and mortgage products and services, as well as consumer and commercial finance, through our four reportable operating segments: Consumer Banking and Lending, Commercial Banking, Corporate and Investment Banking, and Wealth & Investment Management. Wells Fargo ranked No. 41 on Fortune’s 2022 rankings of America’s largest corporations. In the communities we serve, the company focuses its social impact on building a sustainable, inclusive future for all by supporting housing affordability, small business growth, financial health, and a low-carbon economy. News, insights and perspectives from Wells Fargo are also available at Wells Fargo Stories.