{
  "id": 15682741,
  "title": "Asia’s wealth transfer to next generation puts family unity to the test: Report",
  "url": "https://urgent.news/2026/10/20/asias-wealth-transfer-to-next-generation-puts-family-unity-to-the",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-10-20T01:30:00.000Z",
  "source": {
    "name": "Straits Times Business",
    "slug": "straits-times-business",
    "url": "https://www.straitstimes.com/business/asias-wealth-transfer-to-next-generation-puts-family-unity-to-the-test-report"
  },
  "original_language": "en",
  "account": "As Asia's first-generation business owners prepare to transfer their enterprises to younger family members, a recent report highlights the significant challenges and potential pitfalls that can derail a successful succession. The Julius Baer Family Barometer survey of more than 700 advisers to ultra-wealthy families worldwide reveals that only 3.5% of these professionals believe their clients are fully ready for a sale or transfer of ownership. The primary sources of family misalignment, which could jeopardize an exit strategy, include diverging valuation expectations, disagreement over the business's future, emotional attachment, legacy concerns, and timing. In Asia, the next generation's involvement in succession planning is notably low, with only 8.4% of advisers reporting an equal say for the younger generation. Most families prefer to establish a single family office to manage their wealth following an exit, as it allows for streamlined financial oversight and governance. However, the report notes that the majority of families lack the resources to build dedicated teams for investment management and non-investment functions. As a result, many seek external expertise to help navigate the complexities of post-exit wealth management while preserving their entrepreneurial spirit. Jimmy Lee, a member of Julius Baer's global wealth management committee and region head for Asia, emphasizes that families that prioritize succession planning early on and engage the next generation in strategic discussions are better positioned to retain both wealth and entrepreneurial drive. Regardless of region, capital preservation tends to rank as the top priority for wealthy families, with a growing focus on long-term growth in Asia. Taxation remains the leading societal concern, even surpassing intergenerational wealth transfer and political stability. The disparities in expectations among family members can lead to conflicts during the succession process, underscoring the importance of effective governance, ownership structures, and investment frameworks to ensure a smooth transition.",
  "summary": "Families often disagree on valuation when trying to exit a business: Julius Baer Family Barometer report.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}