don’t leave planning your future to the future...07 | making your future your own if you’re like...

| Making your future your own1

Y O U R P E R S O N A L R O A D M A P

Don’t leave planning your future to the future

Next Generation


You are what you doYou may come from a highly successful family.

You may feel a weight of expectation upon you.

But your life doesn’t have to be confined by your family name.

You can define it by what you do.

Whether you have a definite dream and certain goals, or you’re undecided about your future, we can help.


Finding your vocation is not just about considering your vocation or wealth. There are many other important elements in life to weigh up when considering the lifestyle you’d like.

Your future may be a puzzle. But you can figure out how the pieces fit together

Purpose Family Impact

» What do you want to achieve in your chosen vocation?

» Are you pursuing your passion or trying to live up to the expectations of others/peers?

» Do you want to do your own thing by starting a business, setting up a charitable foundation or social enterprise?

» Do you have a role in the family business/office?

» Have you spoken with your family about your goals, and your expectations concerning the family wealth?

» What do you want to be remembered for?

» How does this align with your purpose?


We’ll help plan your future so you don’t have to.

We understand what it means to grow up in an exceptionally successful and wealthy environment. You have more resources and opportunities than most people ever will. At the same time

though, you have your own unique duties and challenges.


Perhaps you know that one day you’ll work in your family’s business, but also that you’d like to try your hand at something different first – whether that’s your own start up, joining another business or building a career.

Maybe you’ve already made up your mind and know what you’re going to do and when you’ll do it.

In any case, your time is precious, so it’s important to spend it doing something which gives you a sense of purpose.


Consider these three questions:

1. Would you work for an organisation whose values you don’t believe in?

2. Do you look to have a positive social impact in your vocation?

3. Are you expected to lead the family business or take your own path?

Your answers can help you work through your goals and identify what your purpose is.

Identifying/demystifying your purpose


If you’re like most of us, you probably want your life to affect the people around you or the wider world – to change things, make things happen or make them better. In other words, to have an impact. But rather than blindly talking about making an impact, it will help you if you picture the sort of effect you’d like to create. And we understand that your work’s impact might be equally or more important to you than its financial return.

Areas to consider

1. What does making an impact mean to you?

2. How will you spend your time and resources so that it’s in line with your goals and purpose?

3. Do you want to integrate how you do it into your day-to-day life (i.e. through your business or career)?

4. Are you expecting it to generate a financial return (i.e. profit or inflow)?

If you want to make an impact, it helps to know what it is.


We’ve found that the next generation of families with businesses benefit from talking about their aspirations with their parents, family and friends. This way you can share ideas, and get advice and help.

Talk to your parents about your future. It may feel awkward or premature, but discussing it openly will prevent misunderstandings and give you enough time to plan it successfully.

Also, parents are likely to have particular concerns, including: » The experience and knowledge you have

to manage your family’s wealth

» Understanding your expectations and what having wealth will mean to you

» Your role as the custodian of the family business and wealth for future generations

» The impact that inheriting wealth will have on your relationships with your friends, partners or spouse

» Choosing trusted advisers to help you navigate to the next stage of your life

Have you discussed any of these with your parents, family or friends?

Talking is good


Here’s just one of many stories we could tell you about the young people we’ve helped and advised:

A client approached us to discuss his hopes and concerns about stepping into a leadership role in his family’s shipping business.

We’re here to connect you to new worlds

As a first step, we invited him to attend an HSBC Next Generation event in Singapore. There he networked with a prestigious crowd of entrepreneurs, and began a series of useful business relationships.

Following on from the event, we provided him with structured mentoring by his HSBC Private Bank and Commercial Bank Relationship Managers. They continue to this day to empower him to grow the family business and fulfil his entrepreneurial aspirations.


A final word“Together, we are smarter”,

so don’t be afraid to seek help and expert advice.

No matter how smart your idea or business model is, chances are you can improve it by sharing it with others and gaining an

understanding of the finer details. You’ll find that people are very willing to help you, because giving advice costs them nothing and

can earn them a friend for life.

You can count on us for advice and support in setting up your business. With HSBC Private Banking, you have the whole of the

HSBC organisation at your disposal to give you guidance and feedback along the way.


Let’s talkFor details on how to get in touch with the relevant HSBC Private Banking expert, visit our website

https://www.hsbcprivatebank.com/en/discover/our-knowledge-and-expertise/next-generation

You will find useful guides and materials and information on how we help entrepreneurs, from starting up to selling their businesses.


Disclaimer

This document has been issued for your information purposes only. If you require investment advice or wish to discuss the suitability of any investment decision, you should contact your Investment Counsellor or Relationship Manager or you should seek such financial, legal or tax advice from your professional advisors as appropriate. HSBC Private Bank (UK) Limited operates a restricted advice model for Retail Investment Products. This means we will advise and make a recommendation for you after we have assessed your needs but we only offer advice on limited types of products from a limited number of companies. You may ask us for a list of companies and products we offer advice on. The basis upon which we provide our investment services is set out in the Investment Services Terms and Conditions (as amended from time to time). If you require further copies of that document please contact your Relationship Manager

Please remember that the value of investments and the income from them can go down as well as up; you may not get back the amount you invested. Further, the effect of inflation may reduce the spending power of your investment in the future. Past performance is not a guide to future performance. In addition, when an investment is denominated in a currency other than your local or reporting currency, changes in exchange rates may have a negative effect on your investment. There is no guarantee of positive trading performance. No part of this publication may be reproduced, stored in a retrieval system, or transmitted, on any form or by any means, electronic, mechanical, photocopying, recording or otherwise, without the prior written permission of HSBC Private Bank (UK) Limited. In the United Kingdom, this document has been approved for distribution by HSBC Private Bank (UK) Limited. We are a member of the HSBC Group, one of the world’s largest banking and financial services organisations.

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don’t leave planning your future to the future...07 | making your future your own if you’re like...

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