As wealth transitions across generations in Asia, many families are choosing to establish dedicated family offices. But beyond asset protection, what truly defines success in this journey?
Unlike private banks, family offices provide more than investment support — they offer holistic governance, succession planning, and often serve as custodians of family values.
A key trait of successful Asian family offices is how early they involve the next generation in decision-making. Additionally, they are increasingly focused on impact investing and philanthropic ventures, aligning wealth with purpose.
FAQs:
Q: What is the primary function of a family office?
A: Family offices manage investments, succession, legal structures, and philanthropy for ultra-wealthy families.
Q: Why are family offices gaining popularity in Asia?
A: Rising intergenerational wealth and the need for long-term legacy planning make family offices increasingly relevant.
User Comments:
- This resonates a lot with our family's approach in Hong Kong.
- Appreciate the focus on next-gen involvement — crucial but often overlooked.
- Well said! Wealth without purpose can easily be squandered.
(Editors: admin)