The confluence of turbulent financial markets, lifestyle changes and the climate emergency are spurring a shift in mindset among many wealthy families in the Asia-Pacific region.
Coupled with changes in the sophistication levels, increasing divergences in the preferences and needs of older and younger family members alike, high-net-worth individuals (HNWIs) and ultra-high-net-worth individuals (UHNWIs) are seeking more professional and structured ways to ensure a smooth wealth transition across generations and locations. Ultimately, they want to protect and sustain their legacy, in ways different from the past.
The recent HSBC Global Private Banking 2023 Global Entrepreneurial Wealth Report indicates that 73 per cent of HNW and UHNW entrepreneurs cite the preservation or distribution of wealth to the next generation as the most significant purpose of wealth. It also suggests that 50…
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Tatler Hong Kong (Digital) - 1 Issue, December 2023