Crazy rich Asians: the next generation – and the struggle to make a success of succession

Wealth planning has become a multifaceted process in our world now. In recent years, we witness a shift among HNW and UHNW families towards incorporating philanthropic gifting in their legacy planning - where wealth-planning via life insurance is considered not only as a responsible exercise, but an endeavour that is necessary in order to contribute positively to the wider society.

As the next generation of HNW individuals succeed the previous generation in the great generational wealth transfer, conscientious investment through philanthropy and ESG will continue to come into greater focus. In our view, adopting holistic long-term planning for families and businesses will be a key solution into the future.

A special thanks to Su-Lin Tan and South China Morning Post SCMP for including our leadership thoughts by Nikki Koh and Simon A. Lo in the article.

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