Landmark Study on Asian Wealth Transfer

Etiqa: Top Three Worries for Singapore Wealth Transfer

Written by Claude Baumann | Publisher

A new White Paper by UOB Private Bank, Boston Consulting Group, and the National University of Singapore Business School warns that without proactive measures, the region’s fast-growing fortunes risk fragmentation and lost legacy.

Titled «The Asia Generational Wealth Report 2025: Succession in a New Era», the White Paper offers the first comprehensive look at intergenerational wealth transfer from an Asian perspective.

Drawing insights from more than 220 high-net-worth individuals and families, the report underscores how deeply cultural values, family structures, and governance norms shape Asia’s approach to inheritance and continuity.

Associate Professor Yupana Wiwattanakantang of NUS Business School, an expert in family capitalism and governance, contributed her research to the study. She observed that «helping families navigate this transition is not only a private matter but also of broader economic and social importance,» as family-owned enterprises remain pivotal to Asia’s growth.

Wealth Boom Meets Succession Challenge

The report highlights that Asia’s private wealth is expanding at unprecedented speed, led by Singapore and Hong Kong, which now capture more than eighty percent of regional inflows. Yet much of this wealth is concentrated in young family businesses – many of them led by founders now in their sixties.

«The next chapter of the region’s wealth will be defined by the complex task of wealth transfer,» said Chew Mun Yew, Head of UOB Private Bank. «As a third-generation bank ourselves, we have seen how early engagement, thoughtful planning, and guided conversations can transform succession».

BCG’s Southeast Asia head, Ernest Saudjana, added that continuity planning is now essential: «With many founders at the age of handover, succession is no longer optional, but crucial to preserving regional economic dynamism».

Generational Divides

The research identifies striking differences between generations. Among younger investors aged 30 to 35, 52 percent list equities and 33 percent list digital assets among their top three holdings. In contrast, close to 70 percent of older founders rank investment property among their main assets – reflecting a preference for tangible wealth.

Another divergence lies in attitudes toward control. While 91 percent of first-generation owners wish to keep business leadership within the family, a quarter cite limited interest from heirs. Many NextGen leaders, by contrast, are more open to hiring professional managers while retaining ownership.

From Reactive to Proactive Transition

The study warns that most families still approach succession reactively. Nearly 40 percent of founders said health issues triggered succession, while 43 percent pointed to business disruptions. Few engage in structured planning early enough to preserve both continuity and family harmony.

The authors advocate that families institutionalise their approach through governance frameworks, ownership design, and active mentorship – all aimed at balancing fairness with control. «Family consensus remains the true currency of continuity,» the report notes.

Building Sustainable Legacies

Beyond the balance sheet, the White Paper stresses that preserving intangible assets – such as reputation, networks, and institutional knowledge – is critical to generational success. Mentorship, board participation, and structured exposure of younger family members are vital to transmit these assets effectively.

It concludes that successful succession demands both professionalisation and empathy – blending modern governance with the Asian emphasis on trust, family ties, and legacy.

Families are encouraged to consult advisors early to design integrated strategies that align wealth planning with business continuity and personal values.