Campden Wealth and BNP Paribas Wealth Management present an extensive study on Next Generation Wealth Holders in Asia-Pacific – their education, experience, engagement with and intentions for family businesses and investments, and expectations of banks – as Next Gens are taking the reins and shaping developments in the financial ecosystem.
In Asia-Pacific, over the last few decades, a substantial amount of wealth has been built through entrepreneurship, and the family firm continues to be one of the dominant forms of company ownership. In the 2020s, there will be a vast and historic transfer of wealth and control between the generations.
Banking, Entrepreneurialism, and the Next Generation of Wealth Holders summarises information provided by 102 Next Gens in Asia-Pacific, with an average age of 38 years and representing families with an average total net wealth of US$640 million.
It examines these future leaders’ education, professional experience, engagement with and intentions for family businesses and investments, and expectations of banks. Are Next Gens going to be mere wealth holders, or wealth creators, too? What degree of harmony will be seen between the generations as they work more closely together? How will family engagement with financial service providers evolve?
The report will be of much interest to both families and financial service providers: patriarchs / matriarchs and Next Gens will want to know how their experience fits with that of their peers, and banks will want to know how they must evolve – e.g., in terms of recruitment, service offerings, and platforms – in order to keep and win business.