At WealthTHINK Hong Kong 2026, one of the day’s most timely and strategically rich discussions came in the form of an interactive session led by Yannick Haeni, CEO Asia at 1291 Group, and Dominic Volek, Group Head of Private Clients and Member of the Executive Committee at Henley & Partners. The conversation explored how wealth managers are responding to a world shaped by geopolitical tension, tax uncertainty, regulatory change and the growing importance of cross-border optionality. What emerged was a clear shift in emphasis: for many years, mobility, residence planning and cross-border structuring sat at the margins of private banking conversations in Asia. Today, they are moving much closer to the center. For ultra-high-net-worth (UHNW) families in Greater China, the question is no longer simply how to allocate capital, but how to diversify jurisdictions, preserve flexibility and structure wealth in ways that remain resilient as rules change. From residence and citizenship planning to Common Reporting Standard scrutiny, Chinese tax developments, offshore trusts and Private Placement Life Insurance (PPLI), the discussion made clear that structural resilience is becoming as important as investment performance.
Key Takeaways:
- Mobility planning is moving into the advisory mainstream: Residence and citizenship are increasingly being discussed as part of broader wealth preservation and optionality planning.
- Clients are diversifying jurisdictions, not just portfolios: Families are thinking more carefully about where they can live, study, hold assets and manage succession.
- Tax still matters, but it is no longer enough on its own: Location decisions now depend on a wider mix of lifestyle, safety, education and geopolitical considerations.
- CRS enforcement is pushing clients towards real substance: A passport alone is not a solution. Long-term planning requires genuine tax residence and real facts on the ground.
- Chinese tax assumptions may be shifting: Recent legal and tax developments suggest that old thinking around citizenship, household registration and reporting may no longer hold.
- Trusts and insurance structures remain relevant, but must be used properly: Substance over form is becoming more important, especially for offshore trusts and PPLI.
- Citizenship programmes are becoming more selective: Wealth alone is less sufficient than before, and clients increasingly need to show connection, contribution and long-term intent.
From portfolio diversification to jurisdiction diversification, the session highlighted how the remit of wealth management in Greater China is broadening. Clients still need investment advice, but increasingly they also need guidance on where they are exposed, how they are structured, and which legal and tax systems they may need to rely on in future. Residence, citizenship, tax residence, trusts and insurance wrappers are no longer niche topics. They are becoming part of the mainstream advisory toolkit for globally mobile families. The firms best placed to serve these clients will be those that can connect structural planning with practical reality. In a world of greater volatility and scrutiny, the goal is not simply to optimise. It is to remain flexible, compliant and durable across jurisdictions.
At WealthTHINK Hong Kong 2026, this discussion made clear that global volatility is changing the nature of private wealth advice. The future will belong to firms that can help families build not only stronger portfolios, but stronger jurisdictional resilience.
