Rethink assumptions about next-generation wealth

THE transfer of wealth to a new generation is a pivotal moment for any family. After a series of high-profile succession dramas – both in real life and on the small screen – it’s only natural to worry that inheritance may be a trigger for disruption.

We tend to assume that the heirs to a family fortune are itching to change direction, either to assert their independence or to pursue different goals. Succession dramas are never far from the headlines in Asia, and the generational divide is often exaggerated in popular culture. Just think of the selfish, squabbling siblings in HBO’s Succession, or the entitled offspring in The White Lotus.

These depictions are clearly unfamiliar to the vast majority of wealthy families. In Asia, most of our next-generation clients would make for an uninspiring movie plot: we know them as conscientious, disciplined investors with a strong understanding of their contribution to society.