Succession in Value: Giving Meaning to Wealth
Place: Jakarta
Date: 9 December 2024
Key speaker:
- Armand Hartono (Deputy President Director of PT Bank Central Asia Tbk.)
9 December 2024
Helping you to seize opportunities, manage risks, make a positive impact and protect your family legacy.
Wealth and family office
Families are faced with significant challenges across a number of dimensions:
Family cohesion is the foundation of a long-lasting family business.
Family businesses often struggle with cohesion due to:
- lack of clarity in family values
- poor communication and undefined roles among family members
- individual egos which lead to power struggles.
In order to sustain family cohesion, succession in value is a must to ensure alignment of goals and principles across generations, which leads to unity and a shared vision in the family business.
Transferring wealth across generations is a complex process aimed at ensuring the financial security of future generations. Family wealth often diminishes when transferred across generations due to:
- poorly planned succession strategies
- complex and challenging tax and legal issues
- unclear communication and clashing interests among family members.
A well-crafted wealth succession is essential for effective wealth transfer across generations, as it facilitates clear and equitable asset distribution, optimises tax efficiencies and harmonises family interests, thereby safeguarding the family's wealth legacy and minimising the risk of conflicts.
Family businesses often cease to exist due to lack of leadership quality in successors.
A few challenges faced by family businesses are:
- lack of long-term succession planning and leadership preparation
- complex family dynamics and emotional attachment
- unclear definition of responsibilities and accountabilities.
Succession in leadership must be strategically planned and prepared as soon as possible to ensure that successors (next-gen) are equipped with the necessary skills, leadership and understanding of family values to foster cohesion and continuity in the family business.
Wealth and Family Office as your solution
Successful family businesses succeed many generations by professionalising their business and professionalising their family. PwC Indonesia supports you in navigating these complexities through our tailored Wealth and Family Office solutions.
As trusted, independent advisors, we work with you to develop strategies that align with your unique goals and values. Our services address the specific challenges faced by family businesses, helping to ensure ongoing success and a lasting legacy for your family.
Video
05/03/26
Discover the power of family governance in business success
4:05
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Transcript
In this insightful video collaboration between Family Business Network and PwC Indonesia, Marcel Irawan (PwC Private Leader) engages in a meaningful discussion with Husodo Angkosubroto (Chairman of Gunung Sewu Group) and Salman Subakat (CEO of Nurhayati Subakat Entrepreneurship Institute). Together, they explore the critical role of family governance and business governance in shaping the future of family enterprises. The conversation highlights how planning governance through a family constitution has become a foundational and widely adopted practice among family businesses, ensuring continuity, clarity, and long-term success.
Our Wealth and Family Office service supports families in these areas and stages:
We are meeting your needs at every stage
At PwC Indonesia, we support you at every stage of your family journey.
We also provide our expertise to assist you in setting up, operating, and expanding your family office.
Wealth Compass, wealth management technology for your family office
Wealth Compass is a robust family office accounting and data aggregation solution that brings speed, quality and independent reporting together to help you manage, reconcile and understand your family’s wealth. We serve ultra-high-net-worth individuals, single and multi-family offices, and fund managers.
We bring together PwC’s experience with the right technology to help manage the complexity that comes with wealth and ease the burden on family offices.
By providing a holistic view of liquid and private investments, family office leaders can improve financial decision-making, risk management and controls to better protect and grow wealth.
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PwC Wealth Compass Teaser: Your personal wealth game changer
0:36
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Transcript
Wealth and Family Office Team
Margie Margaret
Suyanti Halim
Marcel Irawan
Yuliana Kurniadjaja
Hisni Jesica
Yunita Wahadaniah
Raemon Utama
Line of Services
Michael Goenawan
Yuliana Kurniadjaja
Andrias Hendrik
Indra Allen
Hisni Jesica
Ely Kwan
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