We were delighted to host our annual Asian Family Wealth Forum 2015 in Singapore - where more than 220 senior management, as well as wealth planning practitioners and front-line advisers within private banks, IFAs, Family Offices and other independent wealth management organisations, discussed and debated the trends, issues, opportunities and challenges for the industry.
Thank you to everyone who participated, and to our sponsors, especially Amicorp Group as our Platinum Sponsor.
Asian Family Wealth Forum 2015
Marina Bay Sands, Singapore, Singapore
A community of leading organisations within Asian Wealth Management
Senior figures in Asian Wealth Management are speaking at this event
Rohit Bhuta
Ian Black
AAM Advisory
David Varley
AXA
Keith Harrison
Abacare
David Stone
Amicorp Group
Eric Boes
Amicorp Group
Dawn Quek
Baker McKenzie
Simon Ng
Bank J Safra Sarasin
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9.00am
Welcome Address
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9.10am
Panel Discussion
The future for fiduciary services
- What is the future of fiduciary services within a changing regulatory environment?
- What are the key strategic issues facing private banking and industry leaders, in particular, in assessing the options / choices around the delivery of fiduciary services?
- Do all roads lead to independent wealth managers and trustees?
- How are industry leaders dealing with and responding to the opportunities and challenges from global tax transparency, FATCA, Common Reporting Standards?
- Given regulatory scrutiny and complexity, along with enforced business changes, how can you deal with the cost of non-compliance?
- How can organisations find clear points of differentiation in their strategy and value proposition?
Speakers
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9.50am
Keynote Presentation - What do Common Reporting Standards mean for you?
- The latest developments of CRS – to go live in 2 waves in 2016 and 2017
- What impact will the resulting transparency have on the fiduciary industry – for FIs, wealth planners and HNW clients?
- What does this all mean for Asia?
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10.10am
Presentation - Wealth planning for the family: key structures and solutions
- A rapidly evolving Asian wealth management space
- The changing role of insurance companies within the Asian wealth management space
- Insurance as an relevant and increasingly attractive vehicle for tax purposes
- Insurance as a fundamentally important need for the safeguarding and equitable transfer of wealth, business continuity
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10.30am
Refreshment & Networking
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11.00am
Presentation - Does my client need a trust?
- The client goals that trusts are most often used to achieve
- Key questions to ask
- Client control and trust structures
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11.20am
Presentation
- Trust and fiduciary business under pressure from various difference angles
- But a bright future promised if it adapts to the new world order
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11.40am
Presentation - Cross-border life insurance - quo vadis
- Cross-border market in Asia and products used in the HNW space
- Considerations for insurers like active/passive marketing, solicitation and distribution • New trends on CRS and FATCA – and impact on the business
- Product design and tax considerations in light of CRS
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12.00pm
Presentation - Insurance as a planning & structuring solution for HNW clients
- What are HNW clients/families and banks looking for?
- Life wrapping/PPLI – how does it work?
- Life wrapping/PPLI – the benefits to a) HNW clients and b) banks
- Life wrapping/PPLI vs Trusts – which option or combination is better for HNW/bank clients?
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12.15pm
Panel Discussion
Tax Amnesties and information exchange – has structuring changed for good?
- To what extent are Tax Amnesties and Automatic Exchange of information (AEOI) disrupting the current tax planning within wealth management?
- What is the effect of AEOI, FATCA and CRS on unreported assets outside local markets?
- What should we do today to protect wealth – and with the least cost?
- What’s the potential for holding companies, personal portfolio bonds and trusts for international clients?
- Is this an opportunity for local wealth managers to compete with foreign banks?
Speakers
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12.55pm
Lunch & Networking
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1.45pm
Panel Discussion
How to set the family framework – from governance to pre-nups to dispute prevention
- What’s the starting point of a family constitution and a family board to delineate responsibilities and reduce squabbles?
- What are examples of effective ways to create a family governance framework?
- How can you separate family wealth objectives from business values?
- What are some of the structures and solutions to prepare for and minimise the impact of future disputes?
- If disputes do arise – what approaches work best in minimising the impact – both on business and personal assets? • When should families consider external versus internal management for their wealth-related needs?
Speakers
Lee Woon ShiuManaging Director & Group Head of Wealth Planning, Family Office & Insurance Solutions
DBS Private Bank
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2.25pm
Presentation - Asian wealth management centres
- Assessing the merits and pitfalls of different jurisdictions in Asia
- How to decide what’s best for your clients
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2.40pm
Panel Discussion
The role of insurance in Family Wealth
- What are the trends in insurance products available for managing family wealth?
- Why is there such a concentration of Universal Life? What else should advisers and clients consider?
- What is the best way to provide these other insurance products? • What distribution mechanism is most effective for insurance?
- Are all parties in the value chain necessary? Where could it be changed?
- How can advisers have more interesting, practical and relevant conversations with clients about their protection needs?
Chair
Speakers
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3.20pm
Refreshment & Networking
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3.45pm
Panel Discussion
How can we maximise Asia’s family wealth opportunity?
- Where does most of the revenue come from in the Family Wealth space? How is this likely to change going forward?
- Given the challenges in finding enough competent and experienced professionals, as well as advisers, to service wealthy families and their multiple, cross-border needs – is it realistic that banks can offer the right services and products to meet client needs? And should any private bank be interested in trying to do so?
- What is the right approach today to win new clients in this segment?
- How should clients choose between advisers and service providers?
- Can a single source of advice meet clients’ needs in today's environment?
- How can different channels work together for client and mutual benefit?
- When should families consider establishing a family office? What do they need to do this and who should be the family office?
- How is the role of professional services firms and product providers (including insurers) changing? And what does this mean for how they interact with wealth managers as well as families themselves?
- Advice to Asian clients is still very fragmented and divided among the different asset classes. Is the concept of diversification really important to Asian investors? Is real estate a true diversifier?
- Should the attitude of Asian families towards investments change in a world characterised by less growth?
Chair
Speakers
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4.25pm
Panel Discussion
Getting the most out of being philanthropic
- What are the new trends in philanthropy, including the emergence of a new generation of philanthropists taking an innovative approach to philanthropy?
- How can families help make the most impact via philanthropy?
- What are the implications for inter-generational transfer and alignment of philanthropic goals between generations?
- With the desire to create a family legacy – what are the pros and cons of engaging philanthropy in different ways?
- To what extent are their tax and financial implications? How should these be dealt with?
- Being proactive Vs reactive (and strategic Vs adhoc) – what is the right approach to philanthropy?
- What is the due diligence needed to avoid being disappointed?
Chair
Speakers
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5.00pm
Forum Ends
Asian Family Wealth Forum 2015
Marina Bay Sands, Singapore,Singapore
Rohit Bhuta
Ian Black
AAM Advisory
David Varley
AXA
Keith Harrison
Abacare
David Stone
Amicorp Group
Eric Boes
Amicorp Group
Dawn Quek
Baker McKenzie
Simon Ng
Bank J Safra Sarasin
Peter Triggs
DBS Bank
Mark Smallwood
Deutsche Bank Wealth Management
Gerard Gardner
EFG Wealth Solutions
Stephane Schmid
HP Wealth Management
Noor Quek
NQ International
Peter Brigham
Rosemont
Britta Pfister
Rothschild Trust
Fredrik Lager
SEB Private Banking
Tan Woon Hum
Shook Lin & Bok
Thomas Henze
Swiss Life Global Solutions
Terry Alan Farris
Taurus Wealth Advisors
Damiaan Jacobovits de Szeged
Transamerica Life (Bermuda)
Stacy Choong
Withers KhattarWong
Asian Family Wealth Forum 2015
Marina Bay Sands, Singapore,Singapore
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Asian Family Wealth Forum 2015
Marina Bay Sands, Singapore,Singapore