We had the pleasure of co-hosting an online session with EY on “How Can Private Wealth Managers in Hong Kong Successfully Navigate the Great Wealth Transfer?” According to the 2024 EY Global Wealth Management Industry Report one analysis forecasts that by 2030, clients with over US$5m could have transferred up to US$18t, so it’s more important than ever for wealth managers to overcome the underlying challenges and prepare for the opportunities ahead.

During this session, EY experts Angelina Ng, Olaf Toepfer, and Sam Farage shared research and insights on the following:
– Key opportunities for private banks in Hong Kong arising from the transfer of wealth from baby boomers to younger generations, including increased capture of intergenerational wealth and acquisition of new clients
– Key threats including delaying engagement with donors and prospective inheritors, as well as different demands and needs of the next generation.
– Guiding principles for private bankers in helping donors secure their legacy
Categorizing next generation inheritors
– Measures that can be implemented during intergenerational wealth transition

Thank You to all our members who attended! Stay tuned for our future events!

2024 EY Global Wealth Management Industry Report link: https://lnkd.in/gbze8775