Research
January 22, 2026
J.P. Morgan's Paris offices. Image credit: J.P. Morgan
By Amirah Keaton
Ahead of the largest wealth transfer in history, UHNW families are facing major succession planning challenges.
{"ct":"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","iv":"ddf15e8d62319c572c1eb1d3c21d5f56","s":"3875616f61cf4854"}
Share your thoughts. Click here