Hubbis will assemble a group of experts for our November 12 Digital Dialogue for a fascinating discussion into the latest trends in, and outlook for, the world of wealth structuring and planning for Asia’s wealthy. The overriding theme is that the world of wealth structuring has seldom been more dynamic, and certainly never as focused on transparency and legitimacy. At the same time, the pandemic has highlighted mortality in the starkest of lights, boosting the already-growing drive in Asia towards professionalised legacy and wealth planning.
There are numerous drivers behind the institutionalisation and professionalisation of the management of the private wealth of Asia's HNWI and UHNWI families. These include the immense proliferation of global regulations, as well as the associated tax revenue maximisation and information sharing, and cooperation between national governments and their authorities, and of course the tighter supervision of the financial advisory community and their clients.
As the founder generations of Asia’s wealthy and uber-wealthy families and family dynasties increasingly seek guidance for wealth and estate transfer to the younger family generations, it is important for the banks and other advisory firms in Asia to understand how to deal with these clients. Some families bury their heads in the sand, ignoring the need for clearly defined decisions and roles, while others are keen to embrace the process and to put in place the right governance, structures, and direction for the next generations.
It is vital for Asia’s wealth families to create the right wealth structures, to accept the need to distance themselves from those structures, and to work with those bankers, advisers and experts who will truly help devise and revise the optimal structures, bearing also in mind the need to align those structures with the best practices and jurisdictions, as reputation is not to be considered lightly these days.
The consolidation of the management of family wealth through a single-family or even a multiple family office can help ensure a professional approach to the management of the investments, the management of the professionals and jurisdictions with which the family works, and also help with estate and succession processes. There is consequently a major trend towards concentration of structures and relationships to the best-reputed and best managed IFCs.
If Asia’s wealth management industry wants to best serve its clients, and also to retain the younger generations of wealthy for the future, they should also be helping encourage families to embrace inclusiveness in their business and estate and succession planning for the future, especially as the family business is so central to Asia’s private wealth.
The panel will discuss these key trends and identify how the Asian wealth management community and their private clients can work more effectively together to resolve many of the challenges of today and those that lie ahead.
A community of leading organisations within Asian Wealth Management
Senior figures in Asian Wealth Management are speaking at this event
Bryan Cave Leighton Paisner
Wealth Planning and Structuring – an evolving priority in Asian wealth management
- What are the key trends in wealth structuring & planning worldwide and has the Asian private client market embracing these latest concepts and practices?
- What does proper structuring mean and how must the Asian private client mindset evolve on the road to optimised wealth structuring & planning?
- Are Asia’s founder generations driving this forward, or the second generation?
- What levels of multi-generational involvement should we see and is this happening in Asia?
- Which key structures and jurisdictions are in favour and why?
- How do the private banks, IAMs, and MFOs position themselves for wealth structuring & planning, is this a profit centre, or is this a means to expanding client relationships across the generations?
- What role does family and business governance play and is this taking off in Asia?
- What role does life insurance play in structured wealth planning?
- Is Asia truly embracing the need for organised, professionalised legacy & succession planning?
- What key messages are the trustees focused on getting across to the clients?
- What are the key challenges on the road to optimised legacy planning?
- Is Asia’s wealth management community really embracing the need to be more proactive in working with their clients towards more institutionalised wealth & estate planning?
- How can they work inclusively with the legal, accounting, trust and other advisory community to achieve the best outcomes for their clients?
Founder & Chief Executive Officer
Bedell CristinRuben Sinha
Senior Associate, Family Asset Protection
Bryan Cave Leighton PaisnerTan Woon Hum
Partner, Head of Trust, Asset & Wealth Management Practice
Shook Lin & BokAaron Mullins
Bryan Cave Leighton Paisner
Tan Woon Hum
Shook Lin & Bok