Source: Fortune
Summary
Darlene Patterson, Global Head of Client Solutions at Citi Wealth, says that wealthy American families are increasingly seeking to book assets outside the US, a shift she has never seen before in her career. This movement is driven by a desire for “optionality” and a pursuit of a stable, consistent political environment. Patterson notes that clients are not necessarily expatriating from the US, but rather seeking to diversify their assets and enhance their wealth resilience. Citi’s recent report, “Wealth Beyond Borders,” projects that $3.06 trillion will shift into five leading financial hubs between 2025 and 2029. The trend is not confined to Citi’s client book, with other experts noting that wealthy Americans are increasingly seeking international booking options and diversifying their assets beyond domestic borders.
Our Reading
The numbers tell one story. Wealthy Americans are seeking “optionality” and a stable, consistent political environment by booking assets outside the US. Citi’s Darlene Patterson says this is not about expatriation, but about diversification and wealth resilience. The trend is driven by a desire for predictability and security, with clients seeking to hedge their bets against policy or sovereign risk. The movement is intentional, not incidental, and is part of a broader trend toward illiquidity and diversification beyond domestic borders.
The strategy enters a familiar phase. Wealthy Americans are refusing to keep all their eggs in one jurisdictional basket, seeking to enhance their wealth resilience and pursue business and portfolio growth. This is not about abandoning the US, but about diversifying assets and seeking a stable, consistent political environment.
The announcement sounds familiar. Citi’s report, “Wealth Beyond Borders,” projects a significant shift in assets to leading financial hubs between 2025 and 2029. The trend is not unique to Citi’s client book, with other experts noting a similar movement toward international booking options and diversification.
More than 500% surge in inquiries from wealthy Americans about golden visa and citizenship-by-investment programs since the pandemic.
60% of family offices surveyed by UBS planned to make strategic changes to their asset allocation over the next year, with many trimming US dollar exposure amid fears of an AI bubble, tariffs, a weakening dollar, and volatile economic policy.
This is not just a US phenomenon; the trend is global, with wealthy individuals and families seeking to diversify their assets and enhance their wealth resilience.
This is a story about the ultrawealthy, not the average American.
