Securing what matters most, for the next generation

NEARLY three-quarters of family office professionals report increasing tension among family members, according to Standard Chartered Global Private Bank’s 2025 research, The Great Repositioning*. Families are navigating market volatility, geopolitical uncertainties and shifting generational expectations. All these forces are converging, compelling families to think about continuity more urgently and making succession planning a priority that can no longer be delayed.

Families recognise the risks, yet still postpone action. The reason is simple. Succession planning forces uncomfortable conversations about control, inheritance and family leadership especially if the head of the family is still alive. Cultural norms such as taboos around discussing incapacity and bias towards sons, in parts of Asia, add another layer.

Yet the research shows 87 per cent of families believe better succession planning, particularly around cross-border assets, could save them millions. At the same time, while 84 per cent of family members say next-generation engagement is essential, one-third remain dissatisfied with current levels of involvement. Together, these findings underscore that succession planning triggered by crisis is reactive, narrowing options and increasing risk, both financially and relationally.

“Succession planning is compromised when it’s reduced to a transaction rather than built as a long-term family process,” says Foo Tian Ong, regional head for South-east Asia and Singapore location head at Standard Chartered Global Private Bank. “Our experience shows that the families who navigate this successfully began the conversation years before any trigger event, building trust, aligning values and bridging generational perspectives.”

Early engagement changes the nature of advice. Instead of stepping in at moments of urgency and uncertainty, advisers work with families over time, reviewing governance structures, clarifying decision-making roles and preparing successors gradually. Succession can then evolve alongside changes in regulation, markets and family dynamics.

Rethinking where else and how wealth is anchored

Succession planning grows more complex when families operate across borders. The broader environment in which ultra-high-net-worth (UHNW) families operate has grown more demanding.

The same report also reveals 54 per cent of families are considering relocating their family offices (FO) in the next 12 months, reflecting a reassessment of long-term positioning. The top reasons cited include cybersecurity, geopolitical stability and access to specialist talent. For many families, relocation forms part of a strategy to strengthen resilience and diversification.

As wealth and family members span multiple jurisdictions, structures designed for one generation may no longer fit the next. Regulatory requirements shift. Tax frameworks evolve. Technology reshapes how wealth is managed and reported.

Families are no longer maintaining assets within a single jurisdiction or predictable policy regime. They are navigating global exposure, regulatory scrutiny and intergenerational change simultaneously. Succession frameworks must now reflect this repositioning of wealth, geography and governance.

A living process, not a one-time legal event

One Baby Boomer family member with a Hong Kong-based FO, quoted in the research, describes the disciplined approach their family is taking amid heightened uncertainty. “We are about to put our succession plan through a family review. It will then go to the office for execution and support. The global environment today is emphasising preparedness for issues that simply were not around two years ago.”

Their experience is not unique. Standard Chartered sees succession increasingly regarded not as a one-time legal event, but as an ongoing process requiring regular review.

Families are enlisting external support to bring neutrality, objectivity and structure to emotionally complex discussions. Effective succession plans combine the “letter of the law”, defining ownership and control, with the “spirit of the law”, a living framework such as a family charter that articulates shared intentions, values and principles. Balancing both reduces the risk of misunderstanding and long-term disputes.

From old guards to the new guards – bridging generations

When succession plans falter, it is rarely because families lack financial resources or sophisticated structures. The breakdowns are often interpersonal.

Communication gaps can widen between generations shaped by different economic cycles. Investment philosophies may diverge as younger family members seek exposure to newer sectors or geographies.

Where older generations may prioritise capital preservation and continuity, successors may look for different opportunities, access and thematic allocations aligned to their interests. Harnessing this diversity can strengthen strategy and reinforce cohesion, but only when governance provides clear guardrails.

As wealth grows more complex and generational expectations evolve, families are seeking partners who can provide both financial and relational continuity, delivered through dedicated, hands-on advisory support. This extends from succession planning and navigating complex cross-border structures to shaping philanthropic legacies.

“Our generational partnership model is central to the way we work,” says Mr Foo. “We bring together seasoned bankers who have earned our clients’ trust over decades with younger digitally native talent who understand how the next generation thinks and operates. Succession planning isn’t simply about safeguarding assets. It’s about managing relationships across generations. This means being present for those building the legacy as well as the successor inheriting responsibility. Building that trust requires being a true partner to the entire family, not just the account holder.”

As families rethink how they preserve and grow wealth, Standard Chartered Global Private Bank provides both tangible solutions and intangible support.

The Bank offers highly curated opportunities, co-investment options and solutions tailored to specific sector interests or geographic preferences, including private-market opportunities and emerging areas that enhance diversification alongside traditional portfolios.

Initiatives such as the Private Markets Co-Investment Club give eligible UHNW clients deal-by-deal access to manager-led private-market opportunities globally, supported by institutional-grade due diligence and execution. Standard Chartered also has a sports-focused alternative investment fund for

UHNW and HNW clients, tapping into sports, media and entertainment as an emerging asset class for those seeking diversification.

At the same time, the Bank provides softer, relationship-driven support. Its flagship Global Families Network Forum helps strengthen succession planning through peer connections. This exclusive platform connects UHNW families in a private setting to exchange insights and experiences, supporting engagement across multi-generational families outside formal planning cycles.

As a universal bank, Standard Chartered also offers corporate banking services to help families see their full financial picture, from personal wealth to operating businesses and corporate structures. This allows clients to better understand where and how family and enterprise can intersect across generations.

The role of trusted partnership

Standard Chartered Global Private Bank’s approach is built on long-term relationships, supporting families through business transitions, family office relocations, philanthropic shifts and generational change. In an environment where regulation, geopolitics and markets evolve rapidly, continuity of advice matters.

Mr Foo says, “Succession planning isn’t a product you buy when an urgent situation arises. It is a relationship you build over time. The families who get that right are the ones whose legacies survive.”

For families navigating one of the largest intergenerational wealth transfers in history, the question is no longer whether to plan, but who to plan with and when to start. The legacies that survive will be those built on early preparation, resilient frameworks and partnerships that recognise succession planning is ultimately about relationships, not just transactions.

“The families that wait for the perfect moment find themselves navigating transitions under pressure. Early action gives families options. Succession planning is about being ready for tomorrow, today,” Mr Foo concludes.

*The quantitative research data is drawn from a survey of 300 individuals. The sample group comprised 70 family heads, 70 next-gen family members and 160 FO professionals across Mainland China, Singapore, Hong Kong, London, Dubai, India and Africa. All participants come from families with a minimum of US$500 million in investable assets.