Can wealth last beyond three generations?

Rebecca Eu, the fifth generation of the family best known for establishing the Eu Yan Sang healthcare and wellness brand, believes the secret to enduring wealth is more than just finances. “What I’ve inherited isn’t just wealth – it’s the acumen, mindset and spirit of giving back passed down from my grandfather and father,” says Rebecca, whose family legacy has inspired her to set up a social enterprise in the Philippines.

To convey the wisdom needed to secure generational wealth, guidance is key: “Every generation needs a leader to guide decisions on family finances and legacy planning,” says Rebecca. “My dad leads us now, and as a family, we always talk about business. It sharpens our thinking and brings us closer together.”

For Hari V. Krishnan, his two decades as a technologist and business leader – including 10 years as the CEO and managing director of PropertyGuru Group – has enabled him and his wife to build the “first generation of wealth”, as he calls it. In his late forties, Hari saw the need to think about passing on wealth and, like Rebecca, he recognised the importance of preparing the next generation to receive wealth. “For wealth to last, parents need to impart wisdom and inculcate values in their children,” he says.

“I talk to my kids not only about prudence but also the importance of patience and timing. For example, how long it takes for an investment to make a return,” says the father-of-two. “My intention is to leave enough money for my kids to do something with, but not so much that they do nothing.”

Both Hari and Rebecca agree that transparency and communication are key to safeguarding generational wealth. “Families often struggle to talk about money because it mixes emotions with rational decisions,” Hari says. Meanwhile, Rebecca believes that conversations about family finances must respect each member’s personal goals and ambitions to ensure a harmonious passage for wealth across generations.

Building a financial legacy isn’t just about allocating assets. It is also about passing on values, having honest conversations and making decisions that echo across generations. Having a trusted expert by your side makes all the difference. Now’s the time to start that conversation.