As the region prepares for one of the largest intergenerational wealth transfers in history, Asia’s next generation of wealthy families is taking a far more structured and professional approach to inheritance planning than their global peers, according to a recent survey.

Notably, 72% of Asia-Pacific respondents rely primarily on wealth managers and family offices for succession planning advice, underscoring the growing institutionalization of family wealth management across the region, finds Swiss bank UBS’ wealth manager survey, its first dedicated to global next-generation wealth holders.

“The great wealth transfer is already underway,” notes Young Jin Yee, the bank’s co-head of global wealth management for Asia-Pacific. “More than 40% of the Asia-Pacific multi-generational families are already in the process of transferring wealth or actively planning with their advisers.”

Some US$83 trillion in private wealth will change hands globally over the next two to three decades, the bank estimates, a shift already reshaping family governance, investment behaviour and advisory relationships. Nearly one-third of survey respondents say their families are already transferring wealth, while another 25% say they are planning transitions alongside professional advisers.

Asian families, the bank highlights, view succession differently from their Western counterparts. In Asia-Pacific, wealth transfer is still closely tied to family milestones and legacy events, including the passing of older generations, whereas families in Europe and North America increasingly frame inheritance around responsibility and stewardship.

Younger wealthy Asians, the survey’s findings suggest, are seeking more than portfolio management alone. About 78% of respondents say global connectivity and networking opportunities are the key differentiators when selecting a wealth manager, outweighing traditional financial incentives.

Responsibility, the survey also shows, is often handed over before wealth itself. The most common trigger for succession planning was next-generation family members taking larger operational roles within family businesses. In 60% of cases, discussions are initiated by the current wealth-holding generation.

Investment preferences are also shifting. While traditional assets, such as stocks and bonds, remain dominant, nearly half of respondents expressed strong interest in sustainable and impact investing. By comparison, only 11% of active investors report exposure to cryptocurrencies. And interest in sustainability themes, the bank reveals, is particularly pronounced among younger and female heirs.