Private banks are replacing generic heir retreats with targeted offerings, segmenting heirs by age bracket, market and operational focus, as an estimated US$83 trillion global wealth transfer gets underway — including US$11 trillion in Asia alone. 

“Next-gen clients are a diverse group with different expectations and aspirations. Their needs vary by age, background and life stage, so we offer a broad wealth continuum, relevant access and opportunities to make the right connections with peers and experts,” said Lok Yim, regional head of HSBC Private Bank, Asia Pacific.

For instance, HSBC has a calendar of more than seven regional events this year, targeting 300 heirs. It held its NextWave programme in Hong Kong and Shenzhen two months ago, and is adding a new regional Future Family Leaders Programme in Asia in Q4 this year, Yim explained.

J.P. Morgan Private Bank, too, organised its first Emerging Family Leaders (EFL) conference in Bangkok in November 2025. EFL is the bank’s flagship initiative designed to bring together future leaders, entrepreneurs, and next-gen family members, according to the bank’s head of Singapore and Southeast Asia, Paul Thompson.

“A key theme was family business succession and the delicate balance between preserving family values while embracing thoughtful evolution and innovation,” Thompson said. 

He added that the bank also ran the Future Leaders Exchange programme in the region for six years, covering topics such as multi-asset investing, sustainable investing, leverage and structuring, and leadership development for younger clients prior to bringing EFL to Asia. 

BNP Paribas Wealth Management has begun stratifying its initiatives by age, as has UBS GWM. This summer, the French lender launched “Peak Week” in Hong Kong tailored for heirs aged 18 to 25. The platform complements its 19th annual Asia NextGen Experience in Singapore, which gathered older heirs and family entrepreneurs from Asia and Europe to focus on legacy planning, venture building, and impact investing.

No one-size-fits-all approach

While Capgemini’s World Wealth Report estimates that 81% of next-gen heirs plan to switch wealth managers post-inheritance, recent UBS findings suggest family bank relationships drive greater continuity, with 41% preferring to stay. Yet, a substantial portion remains undecided — 31% actively seek a new provider, while 29% are open to switching depending on the relationship. 

This divergence highlights a fundamental reality for private banks. When it comes to next-gen wealth retention, there is no one-size-fits-all approach.

“Preferences depend on an individual’s background, experience and relationship with the family,” said Yim. He explained that the bank is developing a cluster model in which a senior relationship manager leads the family relationship, supported by a group of junior relationship managers. 

“This gives the family continuity and experience, while allowing next-gen clients to build relationships with advisers who may be closer to their own stage of life and interests. We’re continuing to refine the model based on client feedback and experience,” he added. 

Chew Mun Yew, head of UOB Private Bank, too, echoed that there is no single approach which applies to all families. The bank adopts what Chew described as a needs-based approach, with its relationship managers working closely with clients over time to understand their evolving needs and succession priorities. 

“In many cases, this involves a collaborative approach that combines continuity across generations with opportunities for next-gen clients to build their own trusted relationships within the Bank,” he explained. 

From impact to innovation 

Driving these evolving coverage models is a deeper understanding of how the next generation’s values diverge from their predecessors.

Thompson observed how next-gen clients tend to place a strong emphasis on purpose and impact. “Beyond financial outcomes, they are interested in how their capital, businesses and philanthropic efforts can create long-term value for communities and future generations,” he said.

Innovation and technology have also drawn significant interest, as the next-gen is often closely attuned to technological change, entrepreneurship and emerging industries, and they are keen to understand both the opportunities and risks that come with rapid innovation, per Thompson.

Private banks are putting these insights into practice through regional immersions — such as UOB Private Bank’s recent flagship programme in China. The bank brought 26 participants from seven markets to Shanghai and Hangzhou in late August, partnering with the Wealth Management Institute and the China Europe International Business School Centre for Family Heritage to run modules on corporate governance, technology integration, and venture succession.

What defines a successful next-gen programme?

Yet as programmes expand in scope, a larger question emerges: how do banks define success for these next-gen platforms? Chew acknowledged that success is not measured primarily through commercial metrics, and is instead assessed qualitatively.

“We look at factors such as participant feedback, the strength of peer relationships and networks built during and after the programme, continued involvement in our next-gen community, and the extent to which participants develop the mindset, confidence and judgement required to navigate leadership, business and wealth-related decisions,” he explained.

He also noticed how the focus of serving the next-gen clients has traditionally been on investment management and wealth transfer, yet the realities of succession are often much broader and more complex.

“Facilitating early, meaningful conversations around succession and family continuity remains a challenge for many families, particularly in Asia,” he added.