For nearly 80 years, HSBC Trustee has been helping families preserve wealth and legacy

Q: How long will it take to read this news story?

The story "For nearly 80 years, HSBC Trustee has been helping families preserve wealth and legacy" has 281 words across 6 sentences, which will take approximately 2 - 3 minutes for the average person to read.

Q: Which news outlet covered this story?

The story "For nearly 80 years, HSBC Trustee has been helping families preserve wealth and legacy" was covered 4 hours ago by SCMP, a news publisher based in Hong Kong.

Q: How trustworthy is 'SCMP' news outlet?

SCMP is a fully independent (privately-owned) news outlet established in 1903 that covers mostly business news. The outlet is headquartered in Hong Kong and publishes an average of 14 news stories per day. It's most recent story was published 2 hours ago.

Q: What do people currently think of this news story?

The sentiment for this story is currently Neutral, indicating that people are not responding positively or negatively to this news.

Q: How do I report this news for inaccuracy?

You can report an inaccurate news publication to us via our contact page. Please also include the news #ID number and the URL to this story.<ul><li>News ID: #25333789</li><li>URL: https://beamstart.com/news/for-nearly-80-years-hsbc-17375153728044</li></ul>

SCMP Logo SCMP 4h ago

For nearly 80 years, HSBC Trustee has been helping families preserve wealth and legacy - SCMP

Quick Summary:

Asia-Pacific set for an intergenerational wealth transfer estimated at US$5.8 trillion, but HSBC report finds many families lack a succession plan.

Given the complexities of intergenerational wealth transfer in a contemporary global context, financial planning has moved beyond estate administration, custodian arrangements and trust structures for tax planning.“Modern trusts require robust professional trustees who work alongside families, professional advisers and private banking relationship managers to navigate legal and regulatory requirements,” says Brent York, global head of trust and fiduciary services at HSBC Global Private Banking.“The bank’s ambition,” he adds, “is to be the world’s leading wealth manager and global private bank for Asian and international clients and entrepreneurs.

There is an urgency for these families to plan for the transfer systematically and structurally.