An international husband-and-wife team moved to Sydney to lay foundations for generations of wealth.
Building Opportunities on the Other Side of the World
To do this, the market is shifting to cater to a new generation of investors, with tech-based platforms such as :Different being cases in point. The region’s wealth future is in the hands of the young and ambitious—and with over one-quarter of Asia’s ultra-high-net-worth (UHNW) individuals aged below 40, banks need to understand the values that underpin young wealth decisions.
“I think we've been very fortunate in Australia in that property has appreciated so much over the course of time,” says Ms. Radhakrishnan. “It's often one of the biggest sources of wealth creation for yourself and for your family, but, of course, as property prices continue to increase, it becomes harder to enter the market. It becomes incredibly important to have good advice.”
HSBC’s ambition is to be Asia’s leading wealth manager by 2025, opening up a world of opportunities for Asian, international and HSBC-connected clients, wherever their wealth is created, invested and managed. As Asia’s leading bank across the wealth continuum of mass affluent to HNW and UHNW clients, HSBC has a unique ability to serve the full range and progression of wealth needs – from first time investors through to UHNW individuals, their families and businesses. With its leading expertise and capabilities, strong Asian presence and unrivalled international connectivity, HSBC will bring the best of the Group to deliver a wealth experience which help customers achieve sustainable prosperity.
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Mina Radhakrishnan
Co-founder of :Different
Co-founder of :Different
Ruwin Perera
IN CONVERSATION
A
sia’s story is one of unlocking opportunities: wealth across the region is growing twice as fast as the rest of the world, and now accounts for more than 40% of total global wealth. From entrepreneurs relocating—or returning—to Asia Pacific to young business leaders reshaping the priorities underpinning family investment, the region’s potential is only increased by the diversity of wealth it represents.
“If you want to be solving really big problems—and make the sorts of investments, and raise and deploy the sort of capital that is required to do so, you need to be thinking global,” says Ruwin Perera, co-founder with his wife Mina Radhakrishnan of property tech startup :Different, who moved back to his native Australia from Silicon Valley in 2016. “There are many, many countries in Asia Pacific with burgeoning populations, increasing per capita incomes and significant foreign investment flows coming in. And so, as you think about being able to expand into these markets, it's always great to have the tailwind of a demographic dividend.”
There are many, many countries in Asia Pacific with burgeoning populations, increasing per capita incomes and significant foreign investment flows coming in.
that strikes at the core family interaction for years to come.
companies across the region are owned by a family group. So for both innovation-led founders and leaders managing established generational success, intelligent and international wealth advisory is about more than presenting business opportunities—it’s something
Wealth across the region quadrupled between 2000 and 2020, in part thanks to increasing real estate values. Across the globe, property contributes more than two-thirds of net worth. In a market such as Australia—where nearly 80% of recent national net wealth growth stemmed from assets led by real estate—finding ways to encourage and increase property investment is crucial.
— Ruwin Perera
Serving a new investment generation
Sustaining wealth
However, for many businesses across Asia Pacific, where 85% of the region’s companies are owned by a family group, it is not just wealth creation that drives ambition, but the importance of sustaining success and passing it down through generations. This means that across Asia, intelligent and international wealth management is not just about presenting current opportunities—it’s something that strikes at the core of family interactions for years to come.
Today, generational wealth transfer isn’t simply an issue for the wealthiest in society, it impacts investment decisions across the wealth spectrum. For founders such as those at :Different, it shapes how they built their business from the start. “I think about how we grew up,” says Ms. Radhakrishnan, a child of Indian immigrant parents in Canada. “It was about the value of work and why it matters—and it's not just purely from a wealth perspective. While that’s obviously important, being in the position to not have to think about money opens you up to be able to think about so many more things.”
She says that :Different’s guiding mission is to take care of investment properties—and the people in them—well. Success in wealth management means cultivating a deep understanding of how everything from nuanced cultural differences to traditional risk profiles apply in individual regions. For example, in 2021, wealth managers in the APAC region reported that the Coronavirus pandemic encouraged over half of their clients to rethink succession planning. At HSBC, global advisers work with clients to prepare even the youngest generations for wealth, and to set families up for the future.
The potential across Asia for wealth creation can feel endless. While other parts of the globe may double down on preserving what they have, flexible wealth-generating approaches across Asia Pacific provide reasons for homegrown and imported entrepreneurs to invest. Connecting the world with Asian opportunity since 1865, HSBC’s insights on the region offer expertise to help unlock possibilities at every level for every investor.
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3. Values for the Next Generation (2:48)
2. The Growth Story of Asia (1:48)
1. Australia’s Wealth and Property Opportunity (0:45)
If you are interested to learn more, please find details on HSBC services in your location: Australia, Mainland China, Hong Kong, India, Malaysia, Singapore, Taiwan and other locations.
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IN CONVERSATION
Mina Radhakrishnan
Co-founder of :Different
Co-founder of :Different
Ruwin Perera
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