Next-Generation Leadership Becomes Priority for Asian Family Office Succession

Asian family office succession planning needs to provide younger generations with greater independence while preserving the values and principles underpinning family wealth, according to speakers at the BDO Global Private Client Symposium in Singapore.

The discussions come as Asia prepares for an estimated USD12tr intergenerational wealth transfer over the next 15 years.

Russell Wee, a second-generation member of the Jean Yip Group family, said family offices should maintain established family values while allowing younger members to contribute different perspectives and make independent decisions.

Research from the Wealth Management Institute highlights the challenge.

Seven in 10 high-net-worth families expect to transfer wealth to younger generations, but only around half believe their successors are adequately prepared to engage with family offices.

Speakers also emphasised the importance of governance structures that accommodate long-term investment strategies and impact investing.

The findings highlight the need for wealthy Asian families to combine succession planning with meaningful next-generation participation in investment and governance decisions.