Family offices aim to build multi-generational legacies, but many have yet to put in place the people, plans and operational systems needed to achieve that goal, according to a new report commissioned by DBS.

The research also identified three priorities that matter most to families: passing wealth to the next generation, holistic risk management and artificial intelligence (AI) and technology. Across all three, the findings reveal gaps in preparedness.

While families generally recognise the need to act, the research found that the founders’ wish to retain control remains a barrier to succession, with one in three families citing this as the main reason for delaying wealth transfers.

On risk management, more than half of the respondents cite a lack of in-house expertise, while more than 85% have no formal business continuity plan, rely on informal arrangements or are unsure whether a plan exists. These gaps raise questions about how effectively families would respond to disruption, according to the report.

Titled “DBS Asian Family Office Almanac 2026: Assessing the Risk Readiness Gap”, the report draws on two surveys of more than 200 family offices across Asia, Europe and the Middle East, conducted between January and May 2026. It also includes in-depth interviews with founders, principals, next-generation leaders and other key decision-makers.

Lee Woon Shiu, group head of wealth planning, family office & insurance solutions, DBS Bank, said: “As Asia undergoes one of the largest intergenerational wealth transfers in history, our conversations with clients reveal how difficult it can be to move from intention to action.

“Family offices need to look beyond immediate obligations and identify weaknesses in succession arrangements, risk oversight and technology before they become costly problems.”

The report found that, first, nearly eight in 10 families (79%) wish to pass their wealth to at least two generations, while 29% aspire to pass wealth beyond three generations or in perpetuity. Yet 43% say the next generation is not involved in wealth planning at all and just 1% of the next generation are leading the design and implementation of the plan.

Second, only 4% expect a meaningful wealth transfer within the next three years and 29% expect it to take more than seven years. One in three (33%) cite the founder’s wish to stay in control as the main reason for delay and a further 15% expect the transfer to happen only when an event forces it, such as the founder’s incapacity or a crisis.

Third, more than half (54%) hold key assets in their personal name and 52% use personal investment companies, while only 20% use a professionally administered trust. With the next generation increasingly living and working across borders, 55% remain unsure which new ownership structures to put in place.

Fourth, more than 85% of family offices have no formal business continuity plan, rely on informal arrangements, or are unsure whether a plan exists. Only 15% have a plan that is formalised and regularly tested. Almost 40% (38%) have yet to address cybersecurity and data privacy risk, yet only 3% have or plan to obtain cyber insurance.

Fifth, 27% have not prepared for intergenerational leadership risk, 26% have not addressed governance risk and 23% have not planned for family conflict. Nearly one in four (23%) have not addressed key person risk, but just 9% hold key person insurance. The most common reason for not addressing risk is a lack of in-house risk management expertise (56%), followed by limited internal resources (48%).

Finally, six in 10 see learning how to adopt AI effectively as their main objective, yet 47% have yet to use digital tools or AI in day-to-day operations. Internal expertise gaps (49%) and data security concerns (46%) are the biggest barriers, according to the report.