Asignificant wealth transfer is looming on the horizon, with Generation Z set to inherit a substantial portion of it, alongside Millennials, also known as Generation Y. These generational cohorts, shaped by their unique experiences and values, are already exerting a profound influence on the world. It is therefore vital to understand and anticipate their evolving needs, especially when it comes to wealth management.
Both Generation Y and Generation Z are eager to engage with investing and financial matters from a young age, accessing mobile banking apps and showing an interest in trading. These younger generations are paving the way for a future where financial education and investing become integral to their lives.
To prepare these future leaders for managing wealth, initiatives like Standard Bank Wealth and Investment’s Leadership Academy program play a vital role in educating the next generation of clients on the principles of banking, investing, lending and financial planning.
Recognizing that age-specific education is crucial, Wealth and Investment offers tailored programs for different age groups: the Junior Leaders’ Academy is for 10 to 12-year-olds, the Young Leaders’ Academy is for 13 to 17-year-olds, and the Future Leaders’ Academy is for those aged 18 to 24. These programs serve as an inspirational journey, encouraging delegates to take charge of their lives and gain profound insights into their families’ wealth legacies.
Each academy applies research- based approaches to learning agility and change adaptability, providing opportunities to develop a growth mindset. At their recent Future Leaders’ Academy, held in KwaZulu-Natal in August, Wealth and Investment focused on ‘The Art of Personal Branding’.
The day’s sessions were designed to equip the delegates with the skills needed to navigate the complexities of personal branding on social media. They learned about the process of building a unique and distinctive image for themselves in the minds of others, and how best to present themselves both on and offline.
A number of experts in the field shared their expertise and knowledge of personal brand development, and inspired the participants with new ideas on how to make their mark in the digital space.
Participants were also introduced to the Enneagram, a non-boxing personality system designed to ignite self-confidence, and provide pathways for personal growth, self-acceptance and self-mastery.
Social media law expert, Emma Sadleir led a discussion on personal reputation management and the disciplinary consequences of using social media.
The Leadershift Twins hosted a session on establishing a strong online presence in the professional space. An intergenerational wealth conversation on personal brand equity looked at how individuals can create their own stories while still adding value to their multigenerational family legacies.
The delegates participated in lively debates, leaving with valuable knowledge and skills to establish their own strong and effective personal brands.
Standard Bank Wealth and Investment is committed to providing a foundation through education upon which future generations can grow and preserve wealth successfully. Their Leadership Academy program is a fundamental part of their offering, creating opportunities that enable the next generation to protect their family legacies, while pursuing their own dreams and ambitions.
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