As Asia’s first generation of HNWIs/UHNWIs approaches retirement, succession planning and inheritance issues becomes a top concern for the super-rich in the region.
Research suggests that, by 2020, Asia – which today has the world’s largest HNW population – could be home to more than US$14.5 trillion in HNW wealth. China alone will account for over 50% of this total, according to Julius Baer. At least US$16 trillion of wealth will be passed onto the next generation over the next three decades, which will result in the biggest wealth transfer in history from one generation to the next.
In partnership with Transamerica Life Bermuda, this year’s survey investigates the industry’s perception of succession planning, clients’ needs for effective wealth transfer and wealth preservation, and the role of HNW insurance solutions in succession planning.
This survey is conducted independently by Asian Private Banker, but is made possible through the sponsorship of Transamerica Life Bermuda.