Hong Kong Family Office Services Need Expansion as New Wealth Emerges

Hong Kong banks should broaden their Hong Kong family office services as a new generation of wealthy Asian entrepreneurs increasingly seeks strategic advice that extends beyond traditional investment management, according to KPMG.

The recommendation comes as family offices become more prominent across the region amid rapid wealth creation and growing succession-planning needs.

KPMG’s 2026 survey found that 46% of Asian family offices were established within the past five years, highlighting the pace at which new wealth is being generated.

Karmen Yeung, national head of private enterprise at KPMG China, said many of Hong Kong’s family offices are first-generation structures created by founder-led businesses preparing for intergenerational wealth transfers.

As wealth preservation becomes a higher priority than wealth administration, clients are increasingly looking for banks to provide governance expertise, family-office advisory, succession planning and best-practice guidance.

Enhanced Hong Kong family office services could help institutions strengthen long-term relationships with wealthy families.

Hong Kong’s competitive advantages include tax concessions for eligible single-family offices, unrestricted capital flows and a deep pool of wealth-management professionals, reinforcing its position as a leading family office hub in Asia.