Philippine HNWIs top APAC on preservation goals but lag on succession

Maintaining family unity and shared values is one of their top priorities, the study found.

Over 80% of high-net-worth individuals (HNWIs) in the Philippines said that wealth preservation is their main goal when thinking about passing on or receiving family wealth, according to a survey by UnionBank Private and Lombard Odier.

This is the highest across Asia Pacific markets surveyed, and higher than the 64.2% APAC average, according to the study, which polled over 390 HNWIs across the region.

Filipino HNWIs said that “maintaining family unity and shared values” is their second priority.

However, only 14.3% of the Filipino respondents expressed that they are very confident in the ability of the next generation to manage family wealth—lower than the 16.7% of APAC respondents.

Only 16.7% of the Philippine respondents have a full succession plan in place, and only 10% said that their families are “fully aligned.”

One in two HNWIs in the Philippines reportedly faced intergeneration challenges due to differing visions of the future or resistance to change from senior family members.

“The insights from this study highlight a growing need among high-net-worth families for
guidance that extends beyond investment management,” said Gauraw Srivastava, UnionBank’s head of wealth management.