Lombard Odier, a leading Swiss-based global wealth and asset manager, together with UnionBank Private, has released a new research study exploring emerging trends shaping wealth management in the Philippines and across the broader Asia-Pacific (APAC) region.
Entitled “The Wealth Blueprint: Building Wealth, Sustaining Legacy”, the study discusses the evolving behaviors and concerns of high-net-worth individuals (HNWIs) on wealth management, succession planning, legacy preservation, and investments.
The report provides insights from over 390 HNWIs across the APAC region, including UnionBank Private clients and the collective network of Lombard Odier’s Strategic Alliances. Among the key highlights is that, while affluent families recognize the importance of preserving their wealth for future generations, most have not translated their intentions into action. They have no formal frameworks in place or family discussions to iron out differences in priorities and values.
Paradox between family wealth goals and actions taken
80.0% of HNWIs in the Philippines cite preservation of family wealth across generations as their main goal when thinking about passing on or receiving family wealth, the highest across APAC markets surveyed, and compared to a 64.2% APAC average). Maintaining family unity and shared values came in second place at 60.0%.
However, the results showed that only 16.7% of respondents in the Philippines have a full succession plan in place, and 10% of HNWIs in the Philippines said their families were fully aligned. These gaps can make critical family decisions more difficult and create challenges in maintaining a unified long-term vision.
Need to bridge intergenerational gap
Only 14.3% of Philippines respondents are very confident in the ability of Next Gens to manage family wealth, compared to 16.7% of APAC respondents. The study also uncovered that one in two HNWIs in the Philippines highlighted intergeneration challenges, differing visions for the future, and resistance to change from senior family members as primary concerns.
This reiterates the need for properly structured frameworks and open conversations to help families stay aligned and prepare for the future, and are imperative for bridging generational differences and easing decision-making.
Many HNWIs are still looking for a trusted wealth management partner who can provide guidance beyond investment management. They are increasingly seeking support to align family goals, prepare the next generation through succession strategies, and safeguard their legacy.
Receiving wealth advice can play a significant role in alleviating concerns
The report shows a clear correlation between receiving advice and having alignment or governance. For example, a significant 87.5% of APAC respondents who receive professional advice consider their family to have some degree of alignment, compared to 57.8% of those who do not receive advice. Additionally, 50.0% of APAC respondents indicated they do not receive advice believe the absence of a formal structure is a significant challenge in managing their family governance, compared to just 17.2% of respondents who are advised.
“The insights from this study highlight a growing need among high-net-worth families for guidance that extends beyond investment management. Through our strategic alliance with Lombard Odier, we are able to better understand our clients’ evolving priorities and support them with tailored solutions that address wealth preservation, succession planning, and legacy building.
At UnionBank Private, our ultimate goal is to help clients not only grow their wealth but to secure their family’s future and support them as they create a lasting legacy for generations to come,” said Gauraw Srivastava, UnionBank’s Head of Wealth Management.
“Leading families and entrepreneurs in the Philippines are demonstrating greater clarity around their priorities, particularly in relation to long-term investment planning and intergenerational wealth transfer. However, as our findings show, there remains a meaningful gap in translating these intentions into structured, actionable frameworks.
Through our Strategic Alliances, we work closely with our partners such as UnionBank Private to help HNWIs in the region bridge this gap, combining local proximity with global investment and wealth planning capabilities to support HNWIs and their families in building resilience, strengthening alignment, and navigating change across generations,” said Vincent Magnenat, Limited Partner, Global Head of Strategic Alliances, Lombard Odier.
For more information on UnionBank’s wealth management offerings, visit the UnionBank website at https://www.unionbankph.com/wealth, or follow on Facebook, X (formerly Twitter), Instagram, or YouTube.