We were delighted to host our annual PHILIPPINES WEALTH MANAGEMENT FORUM on Wednesday 22nd March 2023 - 9.00am to 2.00pm at the Fairmont Makati Hotel, Philippines
Very simply, the event focused on the evolution of wealth management in the Philippines’ maturing and diversifying market.
We hosted panel discussions and presentations on these topics and more:
- Wealth Leaders and the evolution of wealth management in the Philippines
- Evolving Client Expectations and Needs and how the Competitors should adapt
- Structuring Wealth and Optimising Legacy & Succession Planning
- The regulators and the market’s drive for greater product and advisory diversification
- The rise of the mass affluent client market in the Philippines
- The Globalisation of Filipino wealth and the evolving needs of Wealthy clients and families
- The trends around Domicile Diversification and alternative residence
- Embracing FinTech and Digital Solutions for Tomorrow’s World
- Wealth Management Reimagined – the Advisory-led Proposition
- Investment Products & Solutions – How does the wealth industry deliver as client expectations and needs evolve?
- The Rising Demand for Digital Assets – how can the wealth industry react?
- Into the Future – the competitive environment in the Philippines’ wealth market
PHILIPPINES WEALTH MANAGEMENT FORUM 2023
Fairmont Makati Hotel, Philippines
A community of leading organisations within Asian Wealth Management
Senior figures in Asian Wealth Management are speaking at this event
Marcy Kohchet-Chua
ATRAM
Yifei Li
Alta
Stella Cabalatungan
BDO Private Bank
Albert S. Yeo
BDO Private Bank
Roberto Martin S. Enrile
Bank of the Philippine Islands
Shaun Paterson
Chelmer
Lee Woon Shiu
DBS Private Bank
Kees Stoute
EFG International
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8.30am
Registration
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8.55am
Welcome Address
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9.00am
Panel Discussion
Wealth Managers - Survive and Prosper in the new world
- How is the asset & wealth management industry evolving in the local market?
- What are the trends and developments we are seeing in Asian private wealth management?
- What growth potential lies ahead, and where are the key opportunities for the foreseeable future?
- Fees are being pushed down by investors and regulators – how will wealth managers survive?
- What has to change in the industry if it is to survive and prosper?
Chair
Speakers
Roberto Martin S. EnrileHead of Private Wealth Client Relationship Management
Bank of the Philippine Islands
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9.30am
Presentation - Wealth as a Service: Looking beyond the “Crazy Rich Asians”
Global wealth managers are heavily investing with a laser focus on capturing the growing HNWI population in Asia’s emerging markets. The local universal banks are revamping their client segments to provide tailored advisory services to the wealthy. But are the resources being allocated towards the correct target client base? Are we missing the accelerated growth of a particular wealth segment which will overshadow the HNWI wealth base in the near future? Let’s look beyond Asia’s crazy rich and understand how WMs are gearing up with innovative wealth operating models to capture, service and retain this underserved population.
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9.45am
Panel Discussion
Evolving the Platform and Proposition
- How have you been evolving your platform, processes, and products?
- What are the changing expectations of clients?
- How does this help you in the curation and delivery of advice?
- Have you made any real progress in your digital journey?
- How does digital improve your traditional value proposition?
- What are the products and services you could offer? How can your proposition evolve?
- What is you view on separate platforms that offer wealth management - external to a bank?
- What do you think about digital assets?
Chair
Speakers
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10.15am
Presentation - Millionaire Migration, Climate Change, and where your Grandchildren will live in 100 years
- Millionaire Migration – where did HNWI relocate in 2022 and where are they going in the future?
- Climate Change – where will your grandchildren live in 100 years
- Hedging Sovereign Risk through domicile diversification
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10.30am
Panel Discussion - in partnership with Henley & Partners
Current Trends and Concerns for International Families
- How do you use offshore wealth structures? What are some of the risks?
- How can you protect assets and wealth for the next generation?
- What will be the effect of CRS?
- What is the effect of beneficial ownership transparency?
- Which centres are likely to be most attractive in the future?
- What is the difference between a will and trust in Singapore?
- What are the trends around citizenship and migration?
- Can a local court challengs the validity of an offshore structure holding local Filipino assets?
Chair
Speakers
Lee Woon ShiuManaging Director & Group Head of Wealth Planning, Family Office & Insurance Solutions
DBS Private Bank
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11.00am
Refreshment & Networking
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11.30am
Presentation - Embedded Wealth opportunity in the Philippines
- Evolution of embedded wealth
- Focus on customer needs
- Grow your businesses with embedded wealth in the Philippines
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11.45am
Head-to-Head Interactive Q&A - The Development of the Independent Wealth Model in Asia
Chair
Speakers
- Why have we seen an evolution of the independent wealth model in Asia?
- When did it all start in Singapore and Hong Kong what are the business models?
- What are the advantages for clients?
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12.00pm
Panel Discussion
Curating winning client portfolios following a challenging year
- What are the opportunities and challenges for the year ahead?
- How are you managing risk in 2023? Is it time to take on more risk?
- What's your favourite asset class now?
- How are you generating income for clients?
- What's your view on alternative investments? Digital assets? Private Markets?
- How do you choose the right investment partners?
- How can you consistently deliver performance and differentiate your offering?
Chair
Speakers
Caesar Antonino M. Ordonez Jr.Head of Investments, Private Banking Group
UnionBank of the Philippines
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12.45pm
Presentation - Providing the best service to your customers
- Understanding your customer’s needs
- Helping your customers to help themselves
- Giving RMs the right tools to drive business
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1.00pm
Lunch & Networking
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2.00pm
Forum Ends
PHILIPPINES WEALTH MANAGEMENT FORUM 2023
Fairmont Makati Hotel,Philippines
Marcy Kohchet-Chua
ATRAM
Yifei Li
Alta
Stella Cabalatungan
BDO Private Bank
Albert S. Yeo
BDO Private Bank
Roberto Martin S. Enrile
Bank of the Philippine Islands
Shaun Paterson
Chelmer
Lee Woon Shiu
DBS Private Bank
Kees Stoute
EFG International
Philipp Piaz
Finaport
Peter Faulhaber
HSBC Bank
Scott Moore, IMCM
Henley & Partners
Maita Kilayko
Henley & Partners
Jessica Cutrera
Leo Wealth
Jason Gibbons
Leo Wealth
Joshua Gilbert F. Paraiso
PJS Law
Dr. Robert Ramos
RCBC Trust Corporation
Rex Mendoza
Rampver Financials
Zac Lucas
Spencer West LLP
Michael Gerard D. Enriquez
Sun Life Investment Management and Trust Corporation
Yash Shah
Synpulse
Ramon Melchor Tejero
UnionBank Financial Services and Insurance Brokerage
Caesar Antonino M. Ordonez Jr.
UnionBank of the Philippines
Gautam Sharma
Unionbank
Pieter Zylstra
additiv
PHILIPPINES WEALTH MANAGEMENT FORUM 2023
Fairmont Makati Hotel,Philippines
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PHILIPPINES WEALTH MANAGEMENT FORUM 2023
Fairmont Makati Hotel,Philippines
Setting the Scene for the 2023 Philippines Wealth Management Forum
On Wednesday 22nd March 22, a hand-picked set of 20-plus experts will look in depth at the key trends and developments that emerged in 2022, which was a truly interesting year that saw the wealth industry build further on the many positive changes and advances that we saw in previous years, and especially after the onset of the pandemic, which was in many ways a catalyst for a more digital and also more sophisticated onshore offering.
In short, the Philippines is poised for continuing economic expansion and further rapid growth and diversification of private wealth across the board, from the very rapidly expanding mass affluent market to the surprisingly large and also rapid-growth HNW and UHNW private client segments.
During the 4 panel discussions and the 6 presentations, our chosen experts will focus on as many of the core issues and development and challenges as possible.
This is a brief introduction to some of the key topics and themes they will drill down into on March 22.
There is plenty happening in the local wealth management market, as incumbents and new entrants jostle for position, from new leaders coming to take the reins at some of the bigger name local and global banks and firms, to the arrival of new strategic partnerships, new strategic visions being launched to propel Islamic wealth management, so on and so forth.
Our experts will consider how and where the Philippines’ wealth management market is developing, set against the backdrop of other populous ASEAN countries such as Indonesia, Malaysia, Thailand and to some extent Vietnam. They will analyse where there needs to be more progress and what blocks need to be put into place in order to facilitate such progress, such as regulatory liberalisation, greater investment by the local and international players, more trendsetting by the new JV partnerships between onshore and offshore partners, and so forth.
Understanding the key drivers and current competitive environment is vital for the positioning of the local and international players as they jostle for prominence in what is certainly a market of huge potential, as the population keeps growing and as the economy and private wealth creation keep expanding.
Even amidst the havoc of the pandemic, the country registered strong GDP growth with only modest inflation, and there are plenty of good reasons for the country’s mass affluent and HNWIs to take more cash out of deposits and to invest in the financial markets. Moreover, the demographics are very encouraging - the Philippines has both a huge and a very young and fast-expanding population, the third youngest in Asia.
Although the Philippines has always been one of those economies and markets that has perhaps promised more than it has delivered, there is today mounting optimism that the private sector, the regulators and the government are more aligned than ever in wanting to promote the financial sectors as the country’s population grows so rapidly, as the mass affluent are rising fast and as the government seeks to keep more private wealth onshore.
The regulators will have a lot to do in this regard, and while the pace of liberalisation in Manila is never rapid, there are signs that the authorities do indeed want to help encourage a more professional and also more sophisticated wealth management offering.
The result is a gradually more diversified range of products and solutions onshore and a broader range of private banks and independent wealth firms, some of the alliances between international names and powerful local financial institutions with the reach across the country’s vast lands and many thousands of islands. Moreover, there is rising interest amongst the wealthy in estate and legacy planning, in alternative assets, in globalising their investment portfolios and in generally enhancing both the risk management and also allocation strategies they adopt.
And of course, the Philippines is also propelled by the region-wide drive to digitisation to cater to the younger demographics, to build scale, to deliver greater client centricity and personalisation, and to improve efficiencies and productivity, all vital elements of thrusting the country’s wealth management market further into the ‘new world’.
The digital transformation drive is especially vital as the Philippines is quite huge – consisting of more than 7600 islands and spanning more than 1100km east to west and 1850km north to south, with private wealth spread wider and wider across the nation.
Hubbis will assemble a set of genuine wealth management experts, as well as specialists on digital transformation, investment migration, tax and trusts, and others on March 22 in Manila. They will analyse where there needs to be more progress and what additional building blocks need to be put into place in order to facilitate such progress, such as regulatory liberalisation, greater investment by the local and international players, more trendsetting by the newer JV partnerships between onshore and offshore partners, and so forth. In short, together they will pinpoint these, and many more key evolutionary developments and trends and they will, of course, zoom in on the significant potential that the Philippines’ wealth management market offers existing competitors and the ranks of new entrants and disruptors.
PHILIPPINES WEALTH MANAGEMENT FORUM 2023
Fairmont Makati Hotel,Philippines