Asia stands on the cusp of the largest intergenerational wealth transfer in history. Julius Baer Singapore’s experts—Christos Anagnostopoulos, head of family office solutions/advisory Asia, and Xin Yee Tay, head of wealth advisory Singapore—outline how intentional planning, clear governance, and aligned values can safeguard a legacy for generations to come
A generational handover is underway. By 2030, over US$5.8 trillion is expected to pass from one generation to the next across Asia, according to McKinsey & Company. At the heart of this shift lies the family office: an increasingly vital hub for managing not just capital, but continuity. Yet too often, the focus remains on legal and financial infrastructure, while the deeper challenges of alignment, governance, and vision are left unaddressed.
The result? Fragmentation. Despite wealth transfer becoming the top family-related concern in Asia—surpassing even wealth preservation—many families defer succession planning. The Julius Baer Family Barometer 2024 reveals that 37 per cent of succession discussions happen informally, and nearly half of the families surveyed delay formal planning for fear of triggering conflict.
But delaying critical conversations does not protect families from tension; it sets the stage for it. Unspoken expectations become future disputes, and vague plans give rise to contested legacies. As such, what’s needed is a shift in mindset; moving from reactive conversations during moments of crisis to proactive, structured planning while family ties remain strong and communication is open.
Clarity first
A comprehensive strategic road map can prevent disputes. It helps families define how they operate together, manage roles, and preserve trust across generations. Central to this road map is a family charter: a framework that articulates shared values, outlines responsibilities, and establishes clear decision-making processes. While it does not erase differences, it gives families a common language with which to address them.
Successful wealth transfer is not about relinquishing control. It is about creating clarity. Being clear about objectives and processes reduces emotional toll, strengthens relationships, and prepares families to make long-term decisions with confidence.
Beyond charters and governance frameworks, professional support plays a pivotal role. Estate planners, legal counsel, and strategic advisers act as neutral parties who can guide discussions and facilitate agreement. Their presence introduces objectivity and structure to an often emotionally charged process.
Trusting the process
Another common oversight in succession planning is the gap between business continuity and investment governance. Families may define how a business is handed over, but fail to apply the same clarity to how personal and collective wealth are managed. The lack of a unified investment strategy can lead to reactive decisions, emotional conflicts, and
disjointed portfolios.
To avoid this, families must align investment governance with their broader legacy goals. This involves tailoring a shared investment strategy that accounts for individual needs, risk tolerances, and objectives. For example, pooling funds to achieve economies of scale might be ineffective—or even damaging—if family members have vastly different expectations or liquidity needs. Clear communication and pre-agreed guidelines are essential to prevent friction.
Technology is emerging as a key enabler. According to the Julius Baer Family Barometer 2024, consolidated reporting tools now rank among the top three investment-related priorities for families in Asia. These platforms provide transparency, enable personalisation, and offer insights that support better decision-making. When integrated into a family office, they help to create an environment that is centred around trust and accountability.
Effective investment governance also includes defining roles, responsibilities, and oversight mechanisms within the family office. This ensures clear communication and operational efficiency. Increasingly, families are turning to outsourced chief investment officer services to streamline these processes. These services provide professional oversight, allowing families to maintain strategic control while delegating daily management to experienced experts.
In addition to platforms and planning, family offices are also becoming gateways to opportunity. Today’s most forward-looking families are building networks; by connecting with peers, forming cross-border alliances, and entering new markets through introductions facilitated by advisers. These relationships are no longer peripheral; they are central to how families grow influence and expand purpose.
Ultimately, succession is not a document but is a process. Families who succeed are not those who wait until decisions become urgent, but those who prepare while conditions are favourable.
The most effective families begin early, when relationships are strong and there is time to map out the future with intention. They engage across generations, giving younger family members a seat at the table before control is handed over. They understand that governance is not optional, and legal structures must be supported by a shared vision and defined roles to truly endure.
Professional support is a core component. Advisers reduce emotional strain, bring strategic clarity, and help translate difficult conversations into actionable plans. Just as crucial is the alignment of investments with long-term purpose. A family’s financial strategy should reflect its values, goals, and evolving dynamics. The result is not only capital preservation, but the cultivation of a legacy that is resilient, cohesive, and future-facing.
This story first appeared in the September 2025 issue. Purchase it as a print or digital copy, or consider subscribing to us here
