More Hong Kong families are bringing a financial adviser into the conversation about who inherits what. Family businesses, despite near-universal confidence that the next generation will take over, are among the least prepared.
The share of Hong Kong respondents who discuss legacy arrangements with beneficiaries through a financial adviser rose from 11% in 2025 to 39% in 2026, according to Sunlife Asia’s second annual legacy planning study, Passing the Torch: When Legacy Means More Than Money. High-net-worth respondents were more likely to seek help: 63% have proactively sought professional advice, compared with 53% of other respondents.
Families are also becoming more organised about how they discuss inheritance. Two-thirds (67%) said older generations have shared at least some of their legacy plans, mostly through family meetings (42%) or one-on-one conversations (40%). The share of respondents with no legacy plan at all fell from 49% to 29%, although 45% still have only partially developed plans.
The gap between intention and readiness is widest in family businesses. Among family-business respondents, 88% said the next generation is willing to take over, and 83% have a succession plan, but only 33% said that plan is fully developed. Among those intending to pass on wealth, 78% of family-business respondents worried it may not survive to the next generation, against 63% of other respondents.
The concerns go beyond markets. Among Hong Kong respondents worried about passing on wealth, 50% cited the next generation’s readiness to manage it, and the same share cited market volatility. A further 46% pointed to future changes in laws, regulations or tax policy. Respondents also worried about heirs making poor investment decisions (34%), overspending (32%) or lacking confidence in managing money (27%).
Younger respondents are both more optimistic and more anxious. Two-thirds of millennials (67%) and 65% of Gen Z believe their wealth can have a lasting impact across generations, compared with 51% of baby boomers. Yet 76% of Gen Z and 72% of millennials worry it may not be passed on successfully.
“With wealth and legacy needs becoming increasingly diverse, early planning around asset allocation, protection and family communication is more important than ever,” said Dr Christine Yeung, deputy chief executive officer, life and health, at Sunlife Hong Kong.
The findings add to the demand picture behind Hong Kong’s intermediary-led market. As IB reported in October, brokers produced the largest share of Sunlife Hong Kong’s new business in the first half of 2026.
For brokers and advisers, family business owners are the clearest opportunity. Most already have a plan of some kind and believe their successors are willing. The work lies in completing that plan, and in bringing the next generation into the conversation.
