A global survey by the Swiss bank found that 65% of next-generation family members began helping manage family wealth between the ages of 20 and 35.
“Families worry about wealth not passing through three generations,” said Amy Lo Choi-wan, chairman of UBS Global Wealth Management Asia and CEO of UBS Hong Kong, as quoted by the South China Morning Post. “They want to plan much earlier.”
Asia-Pacific is approaching one of the largest intergenerational wealth transfers in modern history, with an estimated $11 trillion in private wealth expected to change hands over the next two to three decades, UBS forecasts.
As wealth passes down the line, so does responsibility. Around 40% of second- and third-generation family members associate a wealth transfer with a shift in responsibility, a share that climbs to 50% among fourth- and fifth-generation members.
“We see Asia-Pacific families adopting a more structured, deliberate approach to intergenerational transition,” said Young Jin Yee, co-head of UBS Global Wealth Management APAC, as quoted by Reuters. “The next generation is also telling us that access to a strong global network is what truly differentiates a wealth manager.”
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A woman walks past a shop selling gold in Hong Kong on January 26, 2026. Photo by AFP |
Concerning what to do with the inherited wealth, younger business owners are showing greater appetite for alternative investments and technology, according to Jamee Wong, head of private clients in Greater China at UBS Global Wealth Management.
UBS found that 22% of their investment portfolios were allocated to private markets, with 16% in direct investments, driven mainly by a desire to diversify and gain exposure to sectors such as artificial intelligence and robotics.
Nevertheless, conventional assets remained the foundation of next-generation portfolios, with 79% invested primarily in stocks and bonds.
Cryptocurrency, by contrast, attracted limited interest, as only 11% of wealth successors held it. One second-generation entrepreneur cited in the report recalled initial excitement over a specific cryptocurrency, only to lose the entire investment overnight.
“I never truly understood my father’s scepticism towards this asset class, until I saw my portfolio plummet,” the heir said.
Lo forecast that the outlook for wealth management in Asia would remain “significant” despite a broader industry slowdown, noting that wealth created in the region over recent years remained substantial.
She added that demand from Greater China was surging, with UBS recording 80% growth in new accounts over the past 18 months, predominantly from next-generation and new investors aged 50 or below.
Beyond the wealth transfer itself, geopolitical tensions have also fuelled demand for diversification. “What they want is global network,” Lo said.
“Because in the geopolitical situation, they all want to divest their business there and also to do the diversification.”
Hong Kong’s wealth management sector stands to benefit as well, with Wong noting that inquiries from Middle Eastern clients have increased, casting the city in the role of a “safe haven” amid global uncertainty.
Globally, $83 trillion in private wealth transfer is expected to occur over the next two to three decades.
UBS’s inaugural Global Next Generation Report combined findings from two surveys conducted between May 2025 and January 2026, comprising 175 responses globally, of which around 11% came from Asia-Pacific.
Nearly a third of those surveyed worldwide said their families are already transferring wealth, with parents and senior wealth owners taking the lead in starting the conversation on the topic for most families, the report said.
