To put it simply, Kam Shing Kwang has a wealth of knowledge about wealth management - and that makes perfect sense for someone who happens to be the CEO of J.P. Morgan Asia Private Bank. Kam Shing was born in China but raised in other parts of Asia. And, as Michael Liersch discovers in this episode of the My Next Move financial podcast series, that gives her a uniquely cultural point-of-view on how finances affect families. She tells Michael that, yes, Asian families have the same financial hopes, dreams and fears as American families, but there are some differences that may come into play. In China, the one-child limit law that was in place for decades helped shape some of those differences.

Traditionally, the son would inherit the family business, but we now see women stepping in more frequently. And what about the growing entrepreneurial spirit that’s being embraced by younger generations? Kam Shing stresses its impact. “There are also quite a lot of the families understanding that this child may not want to take over the family business, so they actually start thinking about succession planning a lot earlier,” she says.