Best for wealth transfer/succession planning in Hong Kong 2023
RBC Wealth Management
As global markets gyrate in unprecedented ways, Terence Chow, Asia CEO at RBC Wealth Management, cannot help but see a silver lining.
The anxiety provides an opportunity for introspection about clients’ wealth. Many of these conversations lead to talk of wealth transfer and succession planning. And that leads clients straight to RBC, which is doing brisk business providing some of Asia’s most competitive solutions across generations.
Yet, just as much as RBC is keen to help clients set up specific wealth transfer strategies for the years ahead, it is working actively in the here and now to maximize their returns, too.
As senior leaders at the bank put it, the best way to weather uncertainty is to take a step back, look at one’s financial health and review plans for the way forward. It’s there and then that you often see the best opportunities.
RBC advises clients to go through several steps when devising the structure and timing of actual wealth transfers. One is to revisit the overall wealth plan early and often – and with as much objectivity as possible. These are ideal moments to reconsider how prepared a client is for the future – and the setbacks faced in the past three years.