Engaging the Next Generation
Many have heard of the old proverb “Shirtsleeves to shirtsleeves in three generations.” In Japan, the expression goes, “Rice paddies to rice paddies in three generations.” In China, “Wealth does not last beyond three generations.” These depict the challenges wealthy families face in sustaining and passing on their wealth.
The Hubbis Independent Wealth Management event of May 11 in Singapore featured a panel discussion that focused attention on how EAMs can strive to differentiate themselves through the curation of new and interesting investment and product ideas, and through more comprehensive engagement with clients and their family members. Gary Tiernan, CEO of Capital at Golden Equator Wealth, sat as one of our expert panellists. Hubbis summarises some of his views in this short report.