Taking a long-term approach will result in a successful business for financial institutions looking to tap the country’s wealth management potential – from developing the right culture among staff to building product capabilities and the advisory model.
If banks and other financial institutions in the country start to take wealth management more seriously – plus work with regulators to develop the capability, capacity and infrastructure required – a more meaningful role for the industry looks likely over the coming decade.
Commonwealth Bank’s record-breaking, account-opening time of just 10 minutes in Indonesia highlights its digitally-driven ambition to boost customer acquisition in a country where wealth management remains relatively untapped...
In a video interview, Steve Knabl of Swiss Asia and AIAM Singapore explains how the Association must stay closely connected with the whole local independent community and its service providers, to grow membership and stay relevant going forward.
In a video interview, Steve Knabl of Swiss Asia explains the firm’s value position, vision and priorities for the year ahead – including attracting more private bankers to its platform.
In a video interview, Steve Knabl of Swiss Asia and AIAM Singapore says the independent segment will see faster growth if there is more communication and collaboration with private banks – and by reaching out more to end-clients.
Industry leaders in Hong Kong are more sharply-focused than ever on recurring fees as being increasingly important to deal with thin margins and shaky client loyalty, according to a high-level discussion in September co-hosted by Thomson Reuters and Hubbis.
As one of the country’s top firms in its segment, Karvy Private Wealth has set its sights on expansion at home and abroad, riding on the current wave of growth, outlines Abhijit Bhave.
Recent moves to lower costs and increase investment minimums by private banks in Asia have independent wealth managers perfectly positioned to assist underserved, yet affluent, clients, says Mark Nelligan of BNY Mellon’s Pershing Securities Singapore.
Speaking at Hubbis' Vietnam Wealth Management Forum 2017 – Evrard Bordier of Bordier & Cie sees problems ahead for private banks that aren't able to explain why they are relevant.
Speaking at Hubbis' Vietnam Wealth Management Forum 2017 – Sandeep Deobhakta of VPBank explains the importance to all banks of knowing customers’ needs, an also training their staff and giving them the right tools to meet them.
Speaking at Hubbis' Vietnam Wealth Management Forum 2017 – Paul Nguyen of Manulife explains how the firm is building on its market position and product offering to tap the opportunity this under-penetrated market represents.
In a video interview, Richard Vargo of DBS Bank explains the growing role for insurance within wealth management offerings in Asia, especially as customers get better educated about their needs and digital tools can support the process.
In a country moving quickly towards a market-based economy with rising per capita income and per capita GDP – accessing the young and growing population of 95 million-plus offers huge potential for banks, insurers, asset managers and other financial firms looking to offer wealth management products and services.
Speaking at Hubbis’ Indian Wealth Management Forum 2017 in August – Atinkumar Saha of Deutsche Bank Wealth Management cautions that compromising ethics would threaten the growth of the domestic industry.
Speaking at Hubbis’ Indian Wealth Management Forum 2017 in August – Mandeep Nalwa of Taurus Wealth Advisors sees huge opportunities for multi-family offices (MFOs) to grow in Asia.
In a video interview, Shiv Gupta explains the progress the firm has made in its first year of business, and reveals the priorities for the year ahead – such as consolidating the product platform and doing more digitally.
Standard Chartered Bank has achieved an enviable penetration rate for its local wealth business, based on a diversified fund platform, reveals Bambang Simon Simarno. Yet regulatory reform and more digital tools are essential for future growth.
Speaking at Hubbis’ Indian Wealth Management Forum 2017 in August – Karan Bhagat of IIFL Investment Managers believes that the ‘sky is the limit’ for the industry, if it can come together to innovate.
Speaking at Hubbis’ Indian Wealth Management Forum 2017 in August – Anshu Kapoor of Edelweiss Global Wealth Management says magic happens when a diversified team comes together.
Speaking at Hubbis' Indian Wealth Management Forum 2017 in August – Evrard Bordier of Bordier & Cie sees problems ahead for private banks that aren't able to explain why they are relevant.
The country’s wealth management sector has seen impressive growth in AUM over the past couple of years. But investor education, adviser compensation, competency and various other aspects of the industry need scrutiny and improvement to capitalise on the industry’s potential.
Transformation is gathering pace across the international advice market, but being able to demonstrate the value of advice to clients remains a challenge, say Ian Kloss and Mark Christal of Old Mutual International (OMI).
Sankaran Naren of ICICI Prudential Asset Management says investors in the country are increasingly looking at making longer-term decisions, and advisers need to focus on managing client expectations.
Alan Luk explains how Hang Seng is sticking to a strategy of catering to Mainland customers from Hong Kong, where the local bank can deliver a range of solutions and focus on delivering tailor-made services.
For Tan Su Shan, the route to wealth management success in today’s world is based on delivering a combination of what she has termed “the four d’s” – digitalisation, data, democratisation and domesticity.
BNP Paribas Wealth Management is committed to enhancing its service offering in Asia, to remain relevant and respond to the changing industry landscape as well as new client expectations, says Pierre Vrielinck.
Speaking at Hubbis’ Malaysian Wealth Management Forum 2017 in July – Philippe Legrand of London and Capital Asia looks at this new advisory option for those wealthy clients looking for service beyond brand.
Speaking at Hubbis’ Malaysian Wealth Management Forum 2017 in July – Yap Ming Hui of Whitman Independent Advisors looks at how fee-based advisory can be made to work in the country, finally.
More advisory conversations are taking place in the domestic industry, although higher competency levels will help drive these, especially in areas such as wealth solutions, which present a big opportunity going forward, say senior practitioners at the 7th annual Hubbis event in KL in July.
Despite an uncertain market environment heading into the second half of the year, some investment specialists believe any pullback should be a buying opportunity – especially given continued economic growth, positive earnings and liquidity.
Now rebranded to CBH Asia after being bought by Swiss-based bank CBH Bank, the former TTG team is integrating into CBH Group and CBH Asia Limited will play a vital role in establishing the CBH brand in Asia.
China’s One Belt and One Road Initiative will restore the historic linkages that exist between Middle East and Asia. There will be opportunities for banks such as Dubai-based Emirates NBD to leverage on this momentous development in areas such as trade and project finance and wealth management, says Brian Shegar.
Perhaps most pressing in the country is the continued need to overhaul the business model across the wealth management industry, while creating the right type of (longer term) revenue – which will help to increase the penetration of products and retain more assets onshore.
Buoyant markets continue to generate good returns for the country’s investors. But caution is needed in determining where to invest as a way to protect riskier portfolios, says Yogesh Kalwani of BNP Paribas India Wealth Management.
The ‘Rethink Everything’ philosophy that has fueled the growth of global wealth manager Lombard Odier has allowed it to protect its clients’ wealth for 221 years and through 40 financial crises. In Asia, the firm is pursuing a targeted offering and partnership strategy.
It is the near-blind faith that Indians all over the country have in State Bank of India (SBI) that gives Nimish Shah reason for optimism in delivering on plans to grow the state-run institution’s recently-launched wealth management business.
Innovation and a can-do, entrepreneurial spirit are evident at IIFL Investment Managers, in its continued pursuit of growth, says Karan Bhagat – who is also the latest winner of our award ‘Indian Wealth Management - Award for Excellence’.
On the back of a high-performing start to 2017, the Swiss private bank’s growth goals in Asia rely on providing a more focused service to those clients to which the bank believes it can deliver real value, explains Francois Monnet.
Insular Life’s Nina Aguas wants to broker fresh ideas on savings mentality and new products for the country’s oldest insurance company.
Kotak Mahindra Bank’s private wealth AUM will increase rapidly given its demonstrated ability to deliver the right mix of people, products and platform, says Jaideep Hansraj.
Tan Siew Meng of HSBC Private Banking continues to delight in the joys of helping HNW clients grow and preserve their wealth across generations. Such a mind-set is essential in delivering value amid a host of challenges and complexities today.
In a video interview, Josh Crabb of Old Mutual Global Investors (OMGI) explains his outlook for markets and what he sees as driving the next phase.
Helen Kan of China CITIC Bank International (CNCBI) intends to leverage the connectivity with the bank’s China-based parent in a bid to maximise the potential for wealth management business and to capture the younger affluent market banking in Hong Kong via digitalisation, education and new offerings.
Morgan Stanley’s plan to grow its private banking business in the region is about focusing on its global franchise and delivering its core competence in investment ideas and products to active asset owners, explains Vincent Chui.
Citi’s Shrikant Bhat won’t be surprised to see markets correct. In fact, he says he would welcome this window of investment opportunity, and advises customers to get prepared.
In a video interview, Mandeep Nalwa of Taurus Wealth Advisors says he thinks wealth will continue to grow in India, in turn offering opportunities for firms like his to partner with local players to service the offshore needs of their clients.
Given the growing influence and allure of Mainland China, Grace Chow of The Bank of East Asia (BEA) says Hong Kong can maintain its role as a hub and gateway if it leverages what it does well.
In a video interview, Mandeep Nalwa of Taurus Wealth Advisors outlines growth plans for his firm – and despite the independent wealth management industry’s slower-than-expected evolution in Singapore, he remains excited about the future.
The country needs standardised training, less stress on AUM, believe wealth management business leaders.
Former Standard Chartered veteran David Koay is now exploring new horizons on his old stomping ground with BNP Paribas Wealth Management.
Kenneth Ho is slowly and patiently adding experienced headcount to help drive his strategy of building on Carret Private Investments’ Asian vision to access China’s under-tapped market at the upper end of the family wealth spectrum.
A diversity of offerings based on a leaner and more focused foundation will increasingly challenge traditional banking platforms in the Asian UHNW space, says Kenneth Ho of Carret Private Investments in Asia.
In a video interview, Urs Brutsch of HP Wealth Management explains some of the issues in terms of lack of transparency in private banking today in Singapore, and highlights some of the ways to develop more sustainable relationships with clients.
In a video interview, Urs Brutsch of HP Wealth Management explains the role Singapore can play going forward as Asia’s private banking hub – if it continues to develop an industry able to deliver the right skills and knowledge to clients.
In a video interview, Urs Brutsch of HP Wealth Management explains the value proposition of his firm, including the disciplined investment processes and risk controls in place to make it a robust model.
The Liechtenstein-based private bank is expanding its team and enhancing its technology to lure more independent wealth managers to its platform, as a number of its peers struggle to maintain stability or a clear strategy, says Sylvain Gysler.
In a video interview, Paul Hodes explains how Citi looks to position itself as an industry leader in Asia – which includes enhancing its digital proposition and, critically, being transparent with clients and treating them fairly.
In a video interview at the Hubbis Digital Wealth event in Singapore in June, Walter de Oude of Singapore Life explains how the approval of his firm’s licence will help shake-up the insurance space, starting with HNW individuals and then evolving the offering more widely.
In a video interview at the Hubbis Digital Wealth event in Singapore in June, James Tan of Tokio Marine Life Insurance talks about some of the new digital tools and technological advances the firm is spearheading, for the benefit of distributors and end-clients alike.
Wealth managers in India can focus on both doing the right thing with existing customers and getting the right clients to grow the market, believe wealth management business leaders in India.
Wealth managers need a heavy dose of ethics as client dependence grows, believe wealth management business leaders in India.
Rising costs in India’s mutual funds sector means that asset management companies need to be able to manage margins and boost profitability – if they expect to see continued success, believe investment leaders in India.
On the back of robust markets in the first half of 2017, especially across Asia, investment specialists in Asian wealth management look at what’s in store for investors for the rest of the year.
A healthy mix of local knowledge and global know-how is key in delivering portfolio diversification, wealth structuring and succession planning solutions to wealthy Mainland Chinese who have an eye offshore, say Nick Xiao and Philippe Kretz of Swiss China Capital.
In a video interview, Jessica Cutrera of The Capital Company explains why and how independent wealth managers can help clients meet their needs going forward by offering more choice.
In a video interview, Matthew Dabbs of AAM Advisory explains how the IFA has performed since it was acquired by Old Mutual International in early 2016, and outlines some of his priorities for the next phase of growth.
In a video interview, Matthew Dabbs of AAM Advisory says that greater fee transparency and a more tailored approach to service and advice are needed to help stay competitive within the wealth management sector in Singapore.
In a video interview, Rainer Michael Preiss of Taurus Family Office discusses how the industry is moving back to being customer-centric and co-operating with third parties to best serve its clients and refine its value proposition.
In a video interview, Ernest Ong of Mercer discusses the need for Asia’s independent asset managers (IAMs) to collaborate with the wider wealth management industry.
In a video interview, Rolf Haudenschild of Ingenia Consultants explains the value-add of a modular approach to supporting independent asset managers (IAMs) as they conduct and grow their businesses in Asia.
Our 3rd annual event for the local community discussed and debated how to build sufficient capacity and capability to service the evolving investment, family and protection needs of domestic affluent and HNW clients.