Young Asians Take Lead in Wealth Management as $5.8T Transfer Looms

Asia’s wealth management industry is seeing a generational shift as next-gen clients with overseas education and active financial literacy take the lead in managing family wealth, amid a potential $5.8 trillion intergenerational transfer by 2030. Traditional gatekeepers are stepping back, emphasizing dialogue over control, as younger clients often serve as chief investment officers in family offices. Maybank, a top Islamic bank with $240B in assets and $15.1B in 2024 revenue, is expanding its wealth management reach into Cambodia, the Philippines, Vietnam and Greater China, leveraging its ASEAN footprint and Shariah-compliant solutions that attract non-Muslims through ethical, asset-backed principles. The bank’s focus on values-based wealth management aligns with a younger, growth-oriented demographic in the region.