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WEALTH TALK SUMMARY - Emergence of Asian multi-family offices

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.

WEALTH TALK SUMMARY - Fee-for-service in Malaysia: dream or reality?

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.

Evolving wealth management in Malaysia

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.

How to navigate the investment markets in 2H 2017

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.

Adapting to the shake-up in Asian wealth management

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.

Leveraging off a go-global spirit

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.

Event Summary - Building capacity and capability in Malaysia

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.

Scrutiny on quality to trump short-term risks in India

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.

How Lombard Odier is making inroads in Asia

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.

Banking on India’s trust to create a wealth edge

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.

How India’s largest wealth manager stays sharp

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’.

How Credit Suisse is redefining client focus

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.

Breaking boundaries in the Philippines life sector

Insular Life’s Nina Aguas wants to broker fresh ideas on savings mentality and new products for the country’s oldest insurance company.

Kotak’s pillars of wealth management success

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.

Driving passion through private banking

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.

Can Asia overcome the Trump headwind?

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.

Banking on the mass affluent mind-set for growth

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.

A differentiated path to growth in the Asian private wealth business

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.

Seeking opportunities in times of uncertainty

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.

Accessing India’s growth in wealth

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.

Why Hong Kong must play to strengths to stay ahead

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.

Multi-family office insights: Taurus Wealth Advisors

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.

How India can stem wealth manager attrition rates

The country needs standardised training, less stress on AUM, believe wealth management business leaders.

Trading places

Former Standard Chartered veteran David Koay is now exploring new horizons on his old stomping ground with BNP Paribas Wealth Management.

Eyeing scale to target families in Greater China

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.

Breaking through the bank barrier

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.

The right way to do private banking

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.

Assessing Singapore’s wealth management positioning

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.

How HP Wealth Management delivers value to its 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.

VP Bank carves clear independent path in Asia

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.

How Citi is staying ahead of the wealth management pack

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.

How Singapore Life will shake-up the local insurance industry

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.

Improving the insurance experience for clients and distributors

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.

Why Indian fund houses must rethink business models

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.

How to navigate investment markets in 2H 2017

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.

Creating value in Swiss-China connectivity

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.

Choosing between boutique wealth managers vs big private banks

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.

Driving the AAM Advisory business forward

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.

Enhancing transparency in wealth management in Singapore

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.

Putting the customer first

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.

A symbiotic relationship within independent wealth

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.

Providing modular support to asset managers

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.

A new chapter for wealth management in the Philippines

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.

Positioning portfolios for the rest of 2017

Arjan de Boer of Indosuez Wealth Management explains the investment appetite of HNW clients in Asia in the first few months of 2017, and looks at what they should consider for their portfolios for the rest of the year.

Living by a needs-based philosophy

By focusing on customers’ needs and aspirations rather than selling products, HSBC is taking a different approach to wealth management and financial planning. It is one that builds trust and long-term client engagements, and positions the business to meet future needs and achieve sustainable growth, says Mark Glover.

Bringing a more global offering to Malaysia’s HNW

A desire for more diversified portfolios, partly driven by the need for transparency, is enabling leading wealth managers in the country like CIMB Private Banking to bring its proposition more in line with global best practices, says Carolyn Leng.

Leveraging on India’s tech leaders

An important source of untapped wealth in the country is the ever-expanding number of technology entrepreneurs who are getting rich, says Himanshu Bhagat of IIFL Investment Managers.

How Citi is finding meaningful growth in Malaysia

Growing both the asset and client bases in a thoughtful and structured manner rank among the top priorities for the bank’s local wealth management business.

A different kind of family office in Asia

Alex Scott of Sandaire explains the approach and value proposition of his firm’s offering as part of its growth plan for the regional market.

EFG targets high growth post-BSI integration

EFG Bank is determined to pursue a path of growth following the BSI Bank integration, says Kong Eng Huat.

Redefining relevance in private banking

Bordier & Cie has built a proprietary client mapping tool as part of a new strategy. The aim is to make every conversation, investment strategy and solution more targeted and relevant to an individual’s needs and goals, explains Evrard Bordier.

Why adaption is more important than the offering

Julian Kwan of InvestaCrowd advises that adaption while ensuring a solid foundation is more important than investing in technology or having a wide product offering to best suit client needs.

Leonteq refocuses on Asian growth path

After the most challenging period in its 10-year history, the company’s leadership is adamant that its Asia strategy is not only on track, but also likely to lead the charge as this established fintech sets its sights on getting back on the front foot.

Value-add based on what a bank does best

Industry incumbents and newcomers alike in Asian wealth management must look beyond the desire to show-off their digital prowess and instead leverage their core capabilities to provide what clients want, according to business leaders in Hong Kong at a discussion co-hosted by Thomson Reuters and Hubbis.

FTLife sets off on global insurance path

After a career in multi-national firms across Europe and Australia, Lennard Yong was tempted to join a Chinese financial services (JD Group) in Hong Kong to spearhead an insurance company that has a global ambition fuelled by roots in China.

RHB refines wealth strategy to grow top segment

The Malaysian bank is pursuing small- and medium-sized businesses as part of an expanded mandate to help grow its affluent base. The potential synergy will be beneficial amidst this challenging period, explains Calvin Goon of RHB Banking Group.

Staying relevant and refining the value proposition

Urs Brutsch of HP Wealth Management shares insights on refining the value proposition of the independent asset management (IAM) industry by staying relevant and adapting to changing times.

Adapting to changing times for IFAs in Asia

Mike Gravestock expands on the continuing evolution in St. James’s Place Wealth Management’s (SJP’s) business across its international offices in Singapore, Hong Kong and Shanghai, in response to the changing needs of expats and local clients alike.

Seeing growth in a tried-and-tested Hong Kong market

Fabien Jeudy sees a big opportunity to spearhead Sun Life’s local business to leverage the insurer’s existing talent, knowledge and reach on the ground to deliver on the growing need for real protection among the population.

Are Asia’s independent models up to the task?

An exclusive Hubbis survey of independent wealth managers in Singapore and Hong Kong puts a question-mark over whether this increasingly influential community has the required advisory models and processes to deliver on the promise to clients of zero conflict of interest and consistent performance.

Survival of the fittest - how to thrive as an independent

Independent wealth management firms in Asia need to take a close look at their business models and value proposition to ensure they are positioned in a way which will make them sustainable and profitable going forward.

A need for greater capacity in independent firms

Creating the next generation of advisers for these types of organisations is one of the main objectives – and hurdles – for the industry as a whole. Doing it and attracting experienced private bankers and other suitable candidates requires the right mind-set.

Banking on growth in independent wealth in Asia

For those custodians which can get it right, independent firms present a growing and potentially lucrative opportunity amid an otherwise challenging environment. A platform with the right people to deliver on the need for flexibility is a good starting point.

Singapore vs HK - a polarising landscape emerging?

Both financial hubs have growing communities of independent asset managers (IAMs) and multi-family offices (MFOs), despite the segment developing at a different pace and separate times. Yet Hong Kong is showing some signs of lagging when it comes to competitiveness.

A 2020 vision for independent wealth management in Asia

The pace of growth of independent firms in Singapore and Hong Kong hasn’t been as fast as many players initially expected it might be. But the achievements of this segment bode well for what it can achieve going forward – especially with collaboration.