A fortune can be inherited overnight; the skills to protect it cannot. A survey reported by the South China Morning Post says 66% of young heirs in ultra-rich families are not ready to take over. The finding puts ultra-rich heirs and succession planning in sharp focus as wealth moves between generations and founders face a major question: who can lead when they step aside? Succession means preparing heirs to manage businesses, investments and responsibility.
What the survey found
The 2026 Family Barometer, commissioned by Julius Baer and prepared by EY, gathered the views of over 700 financial advisors who advise ultra-high-net-worth (UHNW) families around the world. Families studied had a net wealth exceeding 50 million CHF (US$60.7 million).
Just 2.3% of respondents indicated that their families’ businesses they counsel were completely ready to be passed to the next generation. An additional 12% reported being mostly prepared, with some minor areas of weakness. Among the families surveyed, intergenerational wealth transfer was the second largest concern in society after “taxation” and before “political stability.” The numbers suggest a divide between owning wealth and being prepared to deal with it.
Asia’s next generation has limited say
Only 8.4% of those providing advice for affluent families in Asia felt younger family members had the same voice when implementing post-sale actions, the report revealed. The figure was 13% in Europe, 16.7% in the Middle East and 17% in Latin America.
42% reported that younger family members were consulted, but they did not have any voting rights, and 8.4% reported that they were not consulted at all.
Why succession can fail
Globally, emotional attachment to a family business was the most frequently cited source of disagreement during a transition. In Asia, the leading problem was a mismatch in views about the business’s value, followed by disagreement over its future.
Selling a business does not end the challenge. More than three-quarters of respondents said families would consider an exit to preserve family unity. Close to four in five said protecting shared family wealth was a priority after a sale.
Preparing heirs before the handover
Families can start early by involving younger members in investment discussions and family governance, giving them real responsibilities in stages, and seeking professional help with legal, tax and investment questions. Julius Baer has highlighted mentoring and a gradual increase in responsibility as ways to prepare the next generation.
Succession is not simply about passing on shares or money. It means preparing people to make difficult choices, handle disagreements and protect a family’s future. A legacy is safer when preparation begins well before the handover.
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