Latest news with #Hirshman
Yahoo
28-05-2025
- Business
- Yahoo
Charles Schwab High Net Worth Client Pulse Survey Finds Affluent Investors Are Continuing to Gift Their Assets Despite Economic Uncertainty
Among High Net Worth clients making gifts in 2025, 25% plan to give more compared to last year. WESTLAKE, Texas, May 28, 2025--(BUSINESS WIRE)--Despite a backdrop of market volatility and economic uncertainty during the first half of 2025, High Net Worth (HNW) retail investors are continuing to gift their assets, according to the latest Schwab HNW Client Pulse Survey. Half (51%) of HNW Schwab retail clients, defined as those with at least $1 million in assets at Schwab, plan to gift some amount of their wealth this year. Among those gifting, 25% plan to increase the amount of their gifts this year as compared to last year, and only 7% plan to give less. This continued momentum in wealth transfer reflects the confidence among HNW clients that their financial plans are resilient amid market volatility and uncertainty. While a majority (59%) of HNW clients surveyed describe their market outlook as bearish, over half of those with bearish sentiment feel confident they have a plan in place to withstand any potential market correction. In fact, 67% of HNW clients overall remain confident in their decision-making. Looking forward, 57% of HNW Schwab clients surveyed plan to gift some of their assets in the next five years, and three-quarters (74%) plan to do so over the course of their lifetime. "HNW investors may be cautious about the markets, but they're still acting with intention and making decisions that align with their long-term goals, whether that means giving now or planning to transfer wealth over time," said Susan Hirshman, Director of Wealth Management for Schwab Wealth Advisory and Schwab Center for Financial Research. "Confidence doesn't always mean optimism about the market, but it does mean having clarity in your strategy and financial plan, and the discipline to follow it." The Who, How and Why of Gifting Among HNW investors surveyed who are making gifts in 2025, most are focused on supporting their immediate families. The vast majority (84%) say they plan to give assets to their children, with 91% of those gifts intended for children over the age of 18. Half (50%) say they've already had—or plan to have—conversations with their children about the gifts. While cash remains the most common form of giving, nearly one in four HNW clients plan to transfer investments, highlighting the use of appreciated assets as part of tax and estate planning to reduce capital gains and estate taxes. Even with tax efficiency in mind, gifting is driven by more than financial optimization. The top motivations cited by HNW clients include general financial support for family (66%), estate and tax planning (34%), and funding for education (30%). Additionally, 21% aim to help with significant life milestones, such as a wedding, home purchase, or starting a business. "Gifting is about more than passing down wealth—it's about passing down purpose," said Hirshman. "Yes, tax and estate strategies are important, but the conversations around gifting often center on values, legacy, and preparing the next generation to be thoughtful stewards of what they receive." About the Midyear 2025 HNW Pulse Survey by Charles Schwab The Schwab HNW Client Pulse Survey explores the outlooks, expectations, investing patterns and points of view of clients at Charles Schwab who have more than $1M in investable assets. The study included 183 HNW clients at Charles Schwab and was fielded from April 1 – 14, 2025. About Charles Schwab At Charles Schwab, we believe in the power of investing to help individuals create a better tomorrow. We have a history of challenging the status quo in our industry, innovating in ways that benefit investors and the advisors and employers who serve them, and championing our clients' goals with passion and integrity. More information is available at Follow us on X, Facebook, YouTube, and LinkedIn. Disclosures The information provided here is for general informational purposes only and should not be considered an individualized recommendation or personalized investment advice. All expressions of opinion are subject to changes without notice in reaction to shifting market, economic, and geopolitical conditions. Data herein is obtained from what are considered reliable sources; however, its accuracy, completeness, or reliability cannot be guaranteed. Supporting documentation for any claims or statistical information is available upon request. Investing involves risk, including loss of principal. (0525-ZUE3) View source version on Contacts Hibah ShariffCharles Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
Yahoo
28-05-2025
- Business
- Yahoo
Charles Schwab High Net Worth Client Pulse Survey Finds Affluent Investors Are Continuing to Gift Their Assets Despite Economic Uncertainty
Among High Net Worth clients making gifts in 2025, 25% plan to give more compared to last year. WESTLAKE, Texas, May 28, 2025--(BUSINESS WIRE)--Despite a backdrop of market volatility and economic uncertainty during the first half of 2025, High Net Worth (HNW) retail investors are continuing to gift their assets, according to the latest Schwab HNW Client Pulse Survey. Half (51%) of HNW Schwab retail clients, defined as those with at least $1 million in assets at Schwab, plan to gift some amount of their wealth this year. Among those gifting, 25% plan to increase the amount of their gifts this year as compared to last year, and only 7% plan to give less. This continued momentum in wealth transfer reflects the confidence among HNW clients that their financial plans are resilient amid market volatility and uncertainty. While a majority (59%) of HNW clients surveyed describe their market outlook as bearish, over half of those with bearish sentiment feel confident they have a plan in place to withstand any potential market correction. In fact, 67% of HNW clients overall remain confident in their decision-making. Looking forward, 57% of HNW Schwab clients surveyed plan to gift some of their assets in the next five years, and three-quarters (74%) plan to do so over the course of their lifetime. "HNW investors may be cautious about the markets, but they're still acting with intention and making decisions that align with their long-term goals, whether that means giving now or planning to transfer wealth over time," said Susan Hirshman, Director of Wealth Management for Schwab Wealth Advisory and Schwab Center for Financial Research. "Confidence doesn't always mean optimism about the market, but it does mean having clarity in your strategy and financial plan, and the discipline to follow it." The Who, How and Why of Gifting Among HNW investors surveyed who are making gifts in 2025, most are focused on supporting their immediate families. The vast majority (84%) say they plan to give assets to their children, with 91% of those gifts intended for children over the age of 18. Half (50%) say they've already had—or plan to have—conversations with their children about the gifts. While cash remains the most common form of giving, nearly one in four HNW clients plan to transfer investments, highlighting the use of appreciated assets as part of tax and estate planning to reduce capital gains and estate taxes. Even with tax efficiency in mind, gifting is driven by more than financial optimization. The top motivations cited by HNW clients include general financial support for family (66%), estate and tax planning (34%), and funding for education (30%). Additionally, 21% aim to help with significant life milestones, such as a wedding, home purchase, or starting a business. "Gifting is about more than passing down wealth—it's about passing down purpose," said Hirshman. "Yes, tax and estate strategies are important, but the conversations around gifting often center on values, legacy, and preparing the next generation to be thoughtful stewards of what they receive." About the Midyear 2025 HNW Pulse Survey by Charles Schwab The Schwab HNW Client Pulse Survey explores the outlooks, expectations, investing patterns and points of view of clients at Charles Schwab who have more than $1M in investable assets. The study included 183 HNW clients at Charles Schwab and was fielded from April 1 – 14, 2025. About Charles Schwab At Charles Schwab, we believe in the power of investing to help individuals create a better tomorrow. We have a history of challenging the status quo in our industry, innovating in ways that benefit investors and the advisors and employers who serve them, and championing our clients' goals with passion and integrity. More information is available at Follow us on X, Facebook, YouTube, and LinkedIn. Disclosures The information provided here is for general informational purposes only and should not be considered an individualized recommendation or personalized investment advice. All expressions of opinion are subject to changes without notice in reaction to shifting market, economic, and geopolitical conditions. Data herein is obtained from what are considered reliable sources; however, its accuracy, completeness, or reliability cannot be guaranteed. Supporting documentation for any claims or statistical information is available upon request. Investing involves risk, including loss of principal. (0525-ZUE3) View source version on Contacts Hibah ShariffCharles Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Associated Press
28-05-2025
- Business
- Associated Press
Charles Schwab High Net Worth Client Pulse Survey Finds Affluent Investors Are Continuing to Gift Their Assets Despite Economic Uncertainty
WESTLAKE, Texas--(BUSINESS WIRE)--May 28, 2025-- Despite a backdrop of market volatility and economic uncertainty during the first half of 2025, High Net Worth (HNW) retail investors are continuing to gift their assets, according to the latest Schwab HNW Client Pulse Survey. Half (51%) of HNW Schwab retail clients, defined as those with at least $1 million in assets at Schwab, plan to gift some amount of their wealth this year. Among those gifting, 25% plan to increase the amount of their gifts this year as compared to last year, and only 7% plan to give less. This continued momentum in wealth transfer reflects the confidence among HNW clients that their financial plans are resilient amid market volatility and uncertainty. While a majority (59%) of HNW clients surveyed describe their market outlook as bearish, over half of those with bearish sentiment feel confident they have a plan in place to withstand any potential market correction. In fact, 67% of HNW clients overall remain confident in their decision-making. Looking forward, 57% of HNW Schwab clients surveyed plan to gift some of their assets in the next five years, and three-quarters (74%) plan to do so over the course of their lifetime. 'HNW investors may be cautious about the markets, but they're still acting with intention and making decisions that align with their long-term goals, whether that means giving now or planning to transfer wealth over time,' said Susan Hirshman, Director of Wealth Management for Schwab Wealth Advisory and Schwab Center for Financial Research. 'Confidence doesn't always mean optimism about the market, but it does mean having clarity in your strategy and financial plan, and the discipline to follow it.' The Who, How and Why of Gifting Among HNW investors surveyed who are making gifts in 2025, most are focused on supporting their immediate families. The vast majority (84%) say they plan to give assets to their children, with 91% of those gifts intended for children over the age of 18. Half (50%) say they've already had—or plan to have—conversations with their children about the gifts. While cash remains the most common form of giving, nearly one in four HNW clients plan to transfer investments, highlighting the use of appreciated assets as part of tax and estate planning to reduce capital gains and estate taxes. Even with tax efficiency in mind, gifting is driven by more than financial optimization. The top motivations cited by HNW clients include general financial support for family (66%), estate and tax planning (34%), and funding for education (30%). Additionally, 21% aim to help with significant life milestones, such as a wedding, home purchase, or starting a business. 'Gifting is about more than passing down wealth—it's about passing down purpose,' said Hirshman. 'Yes, tax and estate strategies are important, but the conversations around gifting often center on values, legacy, and preparing the next generation to be thoughtful stewards of what they receive.' About the Midyear 2025 HNW Pulse Survey by Charles Schwab The Schwab HNW Client Pulse Survey explores the outlooks, expectations, investing patterns and points of view of clients at Charles Schwab who have more than $1M in investable assets. The study included 183 HNW clients at Charles Schwab and was fielded from April 1 – 14, 2025. About Charles Schwab At Charles Schwab, we believe in the power of investing to help individuals create a better tomorrow. We have a history of challenging the status quo in our industry, innovating in ways that benefit investors and the advisors and employers who serve them, and championing our clients' goals with passion and integrity. More information is available at Follow us on X, Facebook, YouTube, and LinkedIn. Disclosures The information provided here is for general informational purposes only and should not be considered an individualized recommendation or personalized investment advice. All expressions of opinion are subject to changes without notice in reaction to shifting market, economic, and geopolitical conditions. Data herein is obtained from what are considered reliable sources; however, its accuracy, completeness, or reliability cannot be guaranteed. Supporting documentation for any claims or statistical information is available upon request. Investing involves risk, including loss of principal. (0525-ZUE3) View source version on CONTACT: Hibah Shariff Charles Schwab 415-667-0507 [email protected] KEYWORD: TEXAS UNITED STATES NORTH AMERICA INDUSTRY KEYWORD: FINANCE BANKING PROFESSIONAL SERVICES ASSET MANAGEMENT FINTECH SOURCE: The Charles Schwab Corporation Copyright Business Wire 2025. PUB: 05/28/2025 11:36 AM/DISC: 05/28/2025 11:35 AM
Business Wire
28-05-2025
- Business
- Business Wire
Charles Schwab High Net Worth Client Pulse Survey Finds Affluent Investors
WESTLAKE, Texas--(BUSINESS WIRE)--Despite a backdrop of market volatility and economic uncertainty during the first half of 2025, High Net Worth (HNW) retail investors are continuing to gift their assets, according to the latest Schwab HNW Client Pulse Survey. Half (51%) of HNW Schwab retail clients, defined as those with at least $1 million in assets at Schwab, plan to gift some amount of their wealth this year. Among those gifting, 25% plan to increase the amount of their gifts this year as compared to last year, and only 7% plan to give less. This continued momentum in wealth transfer reflects the confidence among HNW clients that their financial plans are resilient amid market volatility and uncertainty. While a majority (59%) of HNW clients surveyed describe their market outlook as bearish, over half of those with bearish sentiment feel confident they have a plan in place to withstand any potential market correction. In fact, 67% of HNW clients overall remain confident in their decision-making. Looking forward, 57% of HNW Schwab clients surveyed plan to gift some of their assets in the next five years, and three-quarters (74%) plan to do so over the course of their lifetime. 'HNW investors may be cautious about the markets, but they're still acting with intention and making decisions that align with their long-term goals, whether that means giving now or planning to transfer wealth over time,' said Susan Hirshman, Director of Wealth Management for Schwab Wealth Advisory and Schwab Center for Financial Research. 'Confidence doesn't always mean optimism about the market, but it does mean having clarity in your strategy and financial plan, and the discipline to follow it.' The Who, How and Why of Gifting Among HNW investors surveyed who are making gifts in 2025, most are focused on supporting their immediate families. The vast majority (84%) say they plan to give assets to their children, with 91% of those gifts intended for children over the age of 18. Half (50%) say they've already had—or plan to have—conversations with their children about the gifts. While cash remains the most common form of giving, nearly one in four HNW clients plan to transfer investments, highlighting the use of appreciated assets as part of tax and estate planning to reduce capital gains and estate taxes. Even with tax efficiency in mind, gifting is driven by more than financial optimization. The top motivations cited by HNW clients include general financial support for family (66%), estate and tax planning (34%), and funding for education (30%). Additionally, 21% aim to help with significant life milestones, such as a wedding, home purchase, or starting a business. 'Gifting is about more than passing down wealth—it's about passing down purpose,' said Hirshman. 'Yes, tax and estate strategies are important, but the conversations around gifting often center on values, legacy, and preparing the next generation to be thoughtful stewards of what they receive.' About the Midyear 2025 HNW Pulse Survey by Charles Schwab The Schwab HNW Client Pulse Survey explores the outlooks, expectations, investing patterns and points of view of clients at Charles Schwab who have more than $1M in investable assets. The study included 183 HNW clients at Charles Schwab and was fielded from April 1 – 14, 2025. About Charles Schwab At Charles Schwab, we believe in the power of investing to help individuals create a better tomorrow. We have a history of challenging the status quo in our industry, innovating in ways that benefit investors and the advisors and employers who serve them, and championing our clients' goals with passion and integrity. More information is available at Follow us on X, Facebook, YouTube, and LinkedIn. Disclosures The information provided here is for general informational purposes only and should not be considered an individualized recommendation or personalized investment advice. All expressions of opinion are subject to changes without notice in reaction to shifting market, economic, and geopolitical conditions. Data herein is obtained from what are considered reliable sources; however, its accuracy, completeness, or reliability cannot be guaranteed. Supporting documentation for any claims or statistical information is available upon request. Investing involves risk, including loss of principal. (0525-ZUE3)
Yahoo
01-04-2025
- Business
- Yahoo
Don't count on America's wealthiest to help people struggling during the recession—philanthropic spending could go down, experts say
Experts say that a possible U.S. recession could reel back total philanthropic spending, and studies show that the downturn could hurt donating in the long-term. With the possibility of an economic crisis being that of a coin toss, some donors may pull back to protect their finances. A recession is looming like a dark cloud over the heads of many working-class Americans, already struggling to keep up with rising costs of living. But America's richest givers—set to pass down $84 trillion in the 'great wealth transfer' by 2045—could also be affected, as they may pull the plug on their charitable donations if things take a turn for the worse. 'We're hearing the extreme in terms of anxiety. We're hearing [from] people who think this is the end,' Susan Hirshman, director of wealth management for Schwab Wealth Advisory, tells Fortune. 'If you're very uncertain, and you just want to keep things as they are, you may reduce [donating].' Hirshman says that a possible recession could impact donors' giving based mainly on three points: how strongly they feel about the cause, their standing among the 1%, and the severity of the economic downturn. But even then it won't be predictable, she says, noting that a majority of wealth transfers are goal-based—spending money with an altruistic vision in mind, like helping out a struggling family member or aiding community members. Goal-driven donors may be expected to give more when times are tough, but it could swing the other way. Emily Irwin, head of the advice center at Wells Fargo, agrees there has been a sentimental shift. 'We have seen in recent years [that] individuals have a propensity towards wanting to give their money away, whether it's to the next generation or other charitable organizations,' Irwin tells Fortune. 'Very often that goal is tied to some sort of personal, family, or community impact. And the personal might just be: 'It's time. I want to do good [on] the family impact, I want to actually alleviate some financial stress in the rising generation and for the community.'' But there could be asymmetry in terms of who gets what; donors may stick behind helping their partners or children, but pull the ladder up on philanthropy. Both Hirshman and Irwin agree that there are a few key characteristics if someone will shy away from charitable giving: if they're at the lower end of the 1%, without much cash to burn; if they have extreme anxiety about recouping on donations, which could risk their current finances; and if they don't have a strong incentive to give. 'When there's no goal behind [donating], when it really is a purely financially-motivated transaction, that's when we're going to see pull-back,' Irwin says. America's economic situation as of late is bleak: Goldman Sachs just raised its prediction of a U.S. recession to 35%, while JPMorgan upped the odds to 40%. Deutsche Bank even painted the economic downturn as a coin toss, giving it a 50-50 probability. These estimates have only been climbing as President Donald Trump continues to wage a war on international imports—including a 25% tariff on foreign cars, and a 10% hike on all Chinese products. But even in the worst-case scenario, experts tell Fortune that philanthropic spending won't screech to a halt overall—only among those with serious anxiety, or who aren't all in on charitable giving. Those adamant on continuing to donate will still contribute, but it will be less than what they normally give to reflect the current state of their finances. 'No matter what the market is, people will always give to charities,' Hirshman says. 'It may be less, because it's a percentage, and their percentage has gone down, so 10% of their wealth is now smaller than it was in the past. But it's still 10% of their wealth.' The Great Recession of 2008 could offer clues as to what's ahead. That's when the economic downturn reduced total giving by 7%, and, in 2009, by another 6.2%, according to a 2012 report from the Russell Sage Foundation and the Stanford Center on Poverty and Inequality. However, most giving households were still donating the same proportion of their income, and it took years for slight improvements in philanthropic spending, as the economy only modestly recovered. Giving increased slightly, by 1.3%, in 2010, and 0.9% in 2011. The Blackbaud Institute found that it took three years for the recession-related charitable donations to recover to pre-Great Recession levels. So a recession-impacted charitable downturn may be par for the course, based on America's evolving philanthropy. In 2000, a little over two thirds of U.S. households donated to charitable causes; by 2018, that proportion dropped to just under half, according to 2021 research from the Indiana University Lilly Family School of Philanthropy. The study also notes that the Great Recession of 2008 had the largest impact on donating trends, which did not reverse or slow when the economy recovered. There's no telling if a possible U.S. recession will strike Americans as hard—and for as long—as the Great Recession did in 2008. But if the downturn lives up to economists' worst nightmares, the pendulum could swing back against charitable giving. Only the richest and most philanthropic-hearted will be on track to maintain their donations. 'In the long run, they may continue [giving to philanthropy],' Hirshman says. 'It really depends on mindset, on assets, and on charitable beliefs.' This story was originally featured on Sign in to access your portfolio
