8legs: Asia-pacific, region

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Asia’s rich fear losing the family fortune — but many still have no succession plans, survey shows

A Lombard Odier survey of Asia-Pacific's wealthy shows wealth preservation across generations is the top priority for many.
Only 26.9% said their family had a full succession plan in place, signaling a large gap between intention and action.
About 39.4% reported having no succession planning at all, increasing risk amid intergenerational wealth transfer.
The report notes an 'intention-implementation gap' among Asia's wealthy families due to governance and communication hurdles.
Governance weakness and limited family communication leave many families vulnerable to wealth loss.
Japan, the Philippines, Malaysia and Hong Kong show notably weak succession preparedness.
Many older family members have not involved younger generations in governance and wealth discussions.
Nearly 29% of respondents cited a lack of open communication as a key governance challenge.
Wealth transfer risks are rising as Asia and the world face a large intergenerational handover of assets.
Lombard Odier's Asia chief warns that without governance, clients may not hold onto wealth.

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