"Millionaires and billionaires "are recognizing this is not the same game they had to play," wealth manager Patrick Dwyer told CNBC. "Families have to rethink ... what it means to support their children. And we're not talking about spoiling your kids. We're talking about: What if your kid needs retraining at 33?" Dwyer is managing director, Aligned by NewEdge Wealth, a boutique wealth management firm based in Miami. He works with clients with net worths between roughly $100 million and more than $1 billion."
"In a world where seemingly no one is immune to the impacts of AI on the workforce and an increasingly stiff job market, ultra-high net worth people are starting to have the same concerns as middle-class and low-income families: Will my kid be able to get a job and support themself? "Billionaires have the financial resources to support their children, but they sometimes struggle to determine what else is needed for their children to succeed," Tom Thiegs, managing director of leadership and legacy at Ascent Private Capital Management with U.S. Bank, told Fortune."
Ultra-high net worth families increasingly fear that adult children, typically ages 22–35, may struggle to secure and retain careers long associated with security and status, including technology, law, and health care. Wealth managers report clients are reconsidering traditional support strategies and preparing to transfer larger, more meaningful wealth to preserve children's agency and financial stability. Families are also planning for mid-career retraining and broader nonfinancial support. Concerns stem from AI-driven workforce impacts and a stiffer job market, prompting strategic changes in legacy, leadership, and wealth-transfer planning.
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