Malaysia set to attract more foreign inflows as rich baby boomers pass on wealth worth US$1.9t - SC

KUALA LUMPUR: Malaysia’s economic growth is set to draw more foreign inflows as Asia’s largest intergenerational wealth transfer is on the cards, said Securities Commission Malaysia (SC) chairman Datuk Seri Awang Adek Hussin.

He said that according to HSBC Bank, Asia’s wealthy baby boomers are expected to pass on about US$1.9 trillion of wealth to future generations in the coming years.

“The financial planning industry is well positioned to capitalise on this opportunity,“ he said at the Financial Planning Symposium 2024 organised by the Financial Planning Association of Malaysia (FPAM).

On top of that, the opportunity is also set to help deepen the quality of financial planners’ services and expand their client base.

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