Asia’s rich fear losing the family fortune — but many still have no succession plans, survey shows
Asia's wealthy families prioritize preserving their fortunes across generations, but many lack basic succession plans, according to a Lombard Odier survey. The survey found that only 26.9% of respondents had a full succession plan in place, while 39.4% had no succession planning at all. This lack of planning exposes an intention-implementation gap among Asia's wealthy families, leaving them underprepared for intergenerational wealth transfer.
- ▪64.2% of respondents said preserving family wealth across generations was their main priority when considering wealth transfer.
- ▪Only 26.9% of respondents had a full succession plan in place, while 39.4% had no succession planning at all.
- ▪Japan, the Philippines, Malaysia, and Hong Kong stood out for weak succession preparedness, with about half of respondents in those markets having no succession plan.
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Asia's wealthy families want to preserve their fortunes across generations, but many still lack basic succession plans, according to a new Lombard Odier survey.The survey of more than 390 high-net-worth individuals across Asia-Pacific with net investable assets of at least $1 million found that 64.2% of respondents said preserving family wealth across generations was their main priority when considering wealth transfer.Yet only 26.9% said their family had a full succession plan in place, while 39.4% said they had no succession planning at all. The findings expose what the Swiss private bank described as an "intention-implementation gap" among Asia's wealthy families, many of whom remain underprepared despite growing awareness of succession risks.
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