Family Office Strategies: Rethinking Wealth Management in Hong Kong
Balancing Emotion and Strategy in Family Offices
At the Redefining Hong Kong family office conference, experts highlighted the delicate act of managing emotions while strategising for future investments.
- Emotion can disrupt boardroom decisions, as illustrated by Mahesh Harilela's insights on successful governance.
- Dynamic rules are essential to adapt to younger generations' needs.
- Hampton Tao of New Heritage Investment discussed fostering trust through shared experiences during times of investment challenges.
The Surge of Family Offices in Asia-Pacific
According to a Deloitte report, the region is anticipated to see a 40% increase in single-family offices, reaching 3,200 by 2030, highlighting a growing trend in wealth management strategies.
- More than 2,700 single-family offices currently operate in Hong Kong.
- Unity and education were identified as foundational values by family leaders.
As the financial landscape changes, Hong Kong's ultra-rich must embrace a professional approach to ensuring the longevity of their wealth, characterised by strategic unity and ongoing education.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.