Preparing the next generation of wealth holders has become one of the most important challenges facing private banks today across Africa. Standard Bank Wealth and Investment has distinguished itself in this area by building a structured, research-led next-generation programme designed to equip younger family members with the skills, confidence and values required to manage wealth responsibly across generations.
Entrepreneurial wealth and family-owned businesses are a key component of the private banking landscape in Africa, where the question of how to prepare younger family members for future leadership roles is particularly pressing.
Standard Bank’s next-gen proposition was formally introduced in 2022 and has gained significant momentum during the review period, reflecting a deliberate shift from ad hoc engagement with younger family members to a clearly defined, programmatic approach that answers families’ needs. Its objective is to help emerging leaders develop the financial expertise, leadership capabilities and decision-making skills required to steward family wealth in the decades ahead.
At the centre of this strategy is a recognition that the global “great wealth transfer” is accelerating. Over the next quarter century, trillions of dollars are expected to pass from older generations to Gen X, millennials and Gen Z heirs, making preparation of the next generation essential for the long-term preservation of family wealth. Standard Bank’s response has been to combine financial education with broader personal development, encouraging younger clients to think about wealth not only as a financial asset but also as a responsibility tied to legacy, stewardship and long-term impact.
We are committed to empowering and equipping [our next-gen clients] with the skills necessary to become wealth custodians in their own right
Lucratia Mathe
A cornerstone of the programme is the bank’s Leadership Academies, which provide structured education and engagement for next-generation clients from an early age. These academies are organised around four developmental stages, each with age-appropriate content and objectives. Junior Leaders (ages eight to 12) are introduced to basic financial concepts such as saving, budgeting and charitable giving. Young Leaders (13 to 17) focus on developing personal identity, decision-making skills and an early understanding of business and financial responsibility. Future Leaders (18 to 24) deepen their knowledge of wealth creation, entrepreneurship and succession planning, while alumni aged 25 to 39 participate in the Inner Circle network, where they can exchange ideas and build relationships with peers managing similar responsibilities.
The academies combine technical financial education with broader life skills. Participants engage in sessions on financial literacy, entrepreneurship, leadership and personal development, alongside discussions on philanthropy and social impact. This holistic approach reflects the bank’s belief that effective wealth stewardship requires more than investment knowledge; it also demands emotional intelligence, resilience and a clear understanding of family values and legacy.
Recent programme enhancements illustrate how the bank continues to deepen this engagement. During the review period, Standard Bank expanded its academy events across South Africa, hosting multiple regional programmes and introducing new themes focused on building “wealth confidence” among young participants.
Beyond formal education, the next-gen proposition is supported by a broader ecosystem of engagement initiatives designed to connect younger clients with the bank throughout their financial journeys. Curated events, milestone recognition programmes and peer networks help strengthen relationships with the bank while encouraging next-gen clients to participate more actively in family wealth discussions.
Standard Bank believes that helping clients to raise “financially fit families” will also ensure the successful transfer and preservation of wealth. “We recognise that our next-gen clients are future leaders who will inherit family wealth and businesses,” says Lucratia Mathe, head of client value proposition for wealth and investment SA. “That is why we are committed to empowering and equipping them with the skills necessary to become wealth custodians in their own right.”
By combining structured education, generational engagement and long-term relationship building, Standard Bank has developed one of the most comprehensive next-gen wealth programmes in Africa. Its focus on preparing future wealth stewards – rather than simply serving current wealth holders – positions the bank strongly as intergenerational wealth transfer becomes an increasingly important theme for African private banking.
