Wealth managers reduce the risks of transferring assets across generations
Felicia Tan, Cherlyn Yeoh and Khairani Afifi Noordin • • 11 min read
Private banks in Singapore (like Citi’s Wealth Hub, pictured) have launched specialised programmes to prepare the next generation of high-net-worth individuals (HNWIs) for inheritance, safeguarding family legacies. Photo: Citi
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Wealth transitions are complex. Mismanaged, they can damage family relationships and forfeit opportunities to build lasting legacies. According to UBS’s billionaires report in 2024, multigenerational billionaires have inherited a total of US$1.3 trillion ($1.73 trillion) in the past decade — and that number is set to grow.
UBS estimates that billionaires aged 70 and above will transfer US$6.3 trillion to the next generation over the next 15 years, according to Young Jin Yee, co-head of UBS Global Wealth Management Asia Pacific and country head of UBS Singapore.
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