Next-Gen Wealth Holders Changed Banking Habits
Most wealthy heirs in South-east Asia now bypass their parents' banking institutions for their own financial needs.
Updated on Sept. 23, 2026 in Investing
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A recent study found that 71 per cent of next-generation wealth holders in South-east Asia maintain primary banking relationships at institutions different from those used by their parents. Many now distribute their assets across multiple platforms to seek better transparency and performance.
Why it matters
These investors prioritize investment performance and lower fees while avoiding the product-focused sales models of traditional private banks. This shift forces a move toward portfolio-based asset distribution rather than centralized family banking.
Approximately 68 per cent of surveyed wealth holders now manage relationships with three or more banks simultaneously. Only 20 per cent of these individuals identify a traditional private bank as their first choice for financial management.
The players
WealthSummit
An industry research entity that provides insights into private wealth management and global financial trends.
The details
Next-generation clients increasingly use a portfolio approach, keeping small balances at legacy banks while moving new capital to independent asset managers or family offices. This reflects a shift away from the single-bank model toward a diversified strategy involving 42 per cent of respondents looking at independent managers and 39 per cent considering family offices. This strategy allows them to access a wider range of products and avoid perceived conflicts in traditional sales approaches.
Timeline
The survey was conducted from August 2026 to September 2026.
WealthSummit published the study on September 24, 2026.
Money Landscape
Wealth management is shifting away from the traditional, single-source institutional model toward a diversified, multi-firm approach. This trend signals a new era where performance and transparency override the historical inertia of family-legacy banking relationships.
Investors should review whether their current banking relationships offer the fee transparency and product variety necessary for their financial goals. Speak with a qualified financial professional to determine if diversifying your asset management across different institutions aligns with your long-term wealth strategy.
The takeaway
The move toward managing wealth across three or more institutions reflects a growing demand for specialized services and fee-conscious financial management. Consider reviewing your own bank fee structures and product access to ensure they remain competitive for your specific wealth goals.
Further reading
Learn more about managing your portfolio by visiting the Investing section.
Source note: This article includes information reported by The Business Times.
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