A focus on family harmony, strategic tech investments and responsible investing reveals a new era of stewardship in the region, according to a BNP Paribas Wealth Management and Campden Wealth report.

Asia-Pacific family offices are leading the world in structured succession planning, challenging traditional perceptions of informal governance structures in the region, according to a 2024 Asia-Pacific Family Office Report by BNP Paribas Wealth Management and Campden Wealth.

The study, which surveyed 360 family offices worldwide – including 76 from APAC – reveals that 65 per cent of APAC family offices have succession plans, ahead of their global counterparts.

Contrary to perceptions of informal governance in Asia, APAC family offices prioritise robust frameworks centred on family communication and elder care, rather than focusing primarily on investment risk management – a difference from European and North American family offices. Among APAC family offices that are yet to formalise their succession plans, primary challenges include the next generation being viewed as insufficiently qualified (44 per cent) or simply too young (38 per cent) to assume post-succession roles, highlighting the nuanced complexities these families face in their legacy planning.

“The fact that APAC family offices now lead the world in structured succession planning is a testament to their thoughtful approach to governance. Rather than simply copying global models, Asian families are carefully adapting governance structures to reflect their unique pace, values, and vision. This ability to blend global best practices with deep-rooted cultural heritage positions them distinctly in the global landscape,” Arnaud Tellier, APAC CEO of BNP Paribas Wealth Management, said.

“Asian families are not only writing their own playbook rooted in tradition, but also firmly establishing themselves as future global leaders in wealth stewardship,”  Tellier continued.