Hubbis’ 8th annual Asian Wealth Management Forum 2017 in Singapore is against the backdrop of an environment where private banks and other wealth management firms are at a tipping point in their businesses.
Only a small number of private banks are profitable and the industry is increasingly polarising; with the larger, universal institutions on the one hand, and more focused boutique advisory firms at the other, making more headway.
The challenges continue to include: business models which are still overly-reliant on transactional revenue; continued hurdles in raising competency and productivity; onerous compliance obligations; volatile and uncertain investment markets, and limited real innovation or automation. The growing pace of consolidation highlights some of hurdles the industry faces.
A lack of differentiation in the strategies and value propositions of many organisations vying for market share continues.
Further, with insurance companies among the various financial institutions making a foray into wealth management in Asia, the landscape is changing quickly.
Going forward, individual players need to focus on needs-based conversations with the right clients, backed up by real advice and relevant, contextual information. Plus, the digital revolution has infiltrated all aspects of the business and interactions with clients.
Local institutions onshore also need to seize the opportunity they now have to position their wealth management offerings as more strategic within the wider group. This is especially timely, as many foreign institutions struggle to service the same group of clients, and in the same way, given the demands of transparency and tax-related initiatives.
Against this backdrop, we intend to build on this must-attend fixture in the Asian calendar for those individuals and organisations serious about forging a future-proof model for their wealth management offerings.
Asian Wealth Management Forum 2017
Mandarin Oriental Hotel, Singapore
A community of leading organisations within Asian Wealth Management
Senior figures in Asian Wealth Management are speaking at this event
Rohit Bhuta
Michael Gerber
360F
Vineet K Vohra, CFA
Arete Consulting
Walter de Oude
Aviva Singlife
Pankaj Nagrath
Barclays
Craig Ellis
Charles Monat Associates
Shrikant Bhat
Citi
Richard Vargo
DBS Bank
Why you should attend Hubbis events
Experience our latest event for yourself
PHILIPPINES WEALTH MANAGEMENT FORUM 2024
Mandarin Oriental Hotel, Singapore
We were delighted to host our annual PHILIPPINES WEALTH MANAGEMENT FORUM on Wednesday 20t...
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8.40am
Registration
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9.00am
Welcome Address
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9.05am
Panel Discussion
In the transparent and complex world we now live in, what value do clients expect from us?
- What do clients actually want from their wealth manager today?
- Who is best-placed to deliver on client expectations?
- How do we know what adds value?
- What are the sustainable ways to generate profit?
- Do we need to rethink the business model?
- International versus local players - who’s making progress, and who isn’t?
- Is the extent of regulatory reform now at a tipping point?
Chair
Michael Stanhope
Chief Executive Officer & Founder
HubbisPanel members
Michael Blake
Head of Region & Chief Executive Officer Asia, Senior Managing Director
UBPJason Moo
Head of Private Wealth Management, Southeast Asia & Australia
Goldman SachsDavid Vignola
Global Head, Compliance, Private Banking
Standard Chartered BankChan Kum Kong
Head of Research and Products
Singapore ExchangeSpeakers
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9.50am
Presentation - Flexible solutions to meet evolving client’s needs
- How can we help you add value despite all the challenges you face?
- What solutions can provide high protection cover while creating extra liquidity upon death without compromising on investment opportunities?
- What else is available to help legacy planning, trust planning, tax planning or holding complicating assets?
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10.00am
Presentation - CRS - what does it mean to you and your clients?
- Where are we at with CRS and AEOI?
- What can you do to prepare yourself?
- What advice should you be giving to your client?
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10.10am
Presentation - Investor migration and the rise of the global citizen
- Global trends and developments in investor migration
- What’s driving investor migration for Asian HNWIs?
- Key considerations for HNWIs in relation to residence and citizenship planning
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10.20am
Presentation - Meeting the changing needs of today’s clients
- Family legacy protection and liquidity planning needs
- Financial leverage
- Certainty through life insurance-based solutions
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10.30am
WealthTalk - MiFID 2 – the impact in Asia
Patrick DonaldsonGlobal Head of Wealth Solutions, Sales Strategy & Execution
Refinitiv, an LSEG Business
- Who is impacted?
- Key challenges
- Use cases
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10.40am
Refreshment & Networking
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11.05am
WealthTalk - Are existing business models up to the challenges they face?
A lot has been said about the growth of the wealth pool in this region on the one hand, and the new and upcoming innovations through fintechs and digitisation of banking on the other. Less explicit, however, is the discussion about the impact of these two major drivers on the revenues associated with wealth management and private banking activities.
- How will in such an environment the revenue pool of wealth management and private banking likely evolve?
- Is it realistic to assume that the revenue pool of private banking will more or less grow in line with AUM, at least once the normalisation of interest rates kicks in and the global QE efforts have been reversed?
- Or will digitisation of wealth management and private banking have a similar impact as it had on other industries before? (ie. the revenue pool will be substantially smaller in future)
- If so, how far can existing business models of wealth management and private banking be trimmed for efficiency in order to remain economically viable?
- How long will existing banks be able to defend their current fee levels without losing substantial amounts of assets, transactions and clients to much cheaper online platforms?
- And last but not least, what products and services could potentially offer existing banking players compensation for reduced revenues from transactional and mandate based activities?
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11.15am
Panel Discussion
Industry debate: Boutique Wealth Managers vs Big Private Banks. Who is best?
- Are big private banks the only option given the cost of doing business?
- Or are boutique, focused and independent wealth managers the best option for clients?
- Is more consolidation a good thing?
- Should scale be the priority to succeed?
- What will the landscape look like in 5 years’ time?
Chair
Andrew Hendry
Managing Director, Asia
Westoun AdvisorsPanel members
Torsten Linke
Head Private Banking South East Asia & Branch Manager Singapore
Bank Julius BaerSimon Lints
Chief Executive Officer - Singapore
Cazenove CapitalConrad Lim
Managing Director and Deputy Chief Executive Officer
LGT BankRohit Bhuta
Chief Executive Officer
CrossinvestMark Nelligan
Chief Executive Officer, Singapore
Pershing SecuritiesAndreas Wenger
Associate Partner
SynpulseSpeakers
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12.00pm
WealthTalk - Lessons learned from the EFG-BSI integration
- How have you approached the integration process?
- What have the challenges been?
- How have you addressed them?
- How have you positioned the combined business for the future?
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12.10pm
Presentation - The digital transformation – from buzzwords to business
- We are living in a digital era – now what? Join this session to gain insight into how you can translate the disruption of the digital revolution into opportunity
- Discover the possibilities to transform your firm’s wealth management offer above others with technology
- See how integrating a multi-pronged digital approach to the client experience, can enhance the advisory relationship, allowing you to personalise your services without compromise to the full spectrum of your HNW investors
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12.20pm
Presentation - How Asian bonds enhance fixed income portfolios
- Global investors are understandably concerned about their fixed income portfolios as they balance the need for income with the risks of a low-growth, rising US interest rate environment
- Lead Portfolio Manager Teresa Kong, CFA, will explain how an investment in Asian fixed income can help investors to increase portfolio yield, maintain purchasing power, add diversification, and provide protection from rising interest rates
- She will discuss the current environment for fixed income investing in Asia, the fundamentals of the under-researched Asian credit asset class, and how the Matthews Asia Credit Opportunities portfolio is constructed
- Delegates will understand how we generate returns by (1) taking advantage of short-term noise to invest long term in companies with structural advantages, (2) looking for asymmetric return situations with limited downside and upside optionality, and (3) deep analysis to viability of the business model and incentives of the management team
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12.35pm
Presentation
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12.35pm
Lunch & Networking
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1.20pm
Panel Discussion
How do we deliver relevant insurance solutions for our clients?
- What are priorities for insurance companies to develop their wealth-related offerings?
- How do we drive the right types of conversations with our clients?
- Can we change the mind-set and educate bankers and clients on the alternative insurance options out there?
- What’s the right product and proposition?
- How is the distribution mix changing?
- Can we develop the tools which are right for the needs and demands of the next generation?
Chair
Michael Stanhope
Chief Executive Officer & Founder
HubbisPanel members
Richard Vargo
Managing Director, Bancassurance, Consumer Investment & Insurance Products
DBS BankDebbie Lee
Head of High Net Worth Distribution, Singapore
HSBC InsuranceAndrew Waddell
Managing Director, Singapore
Friends Provident InternationalWalter de Oude
Founder & Chief Executive Officer
Singapore LifeCraig Ellis
Chief Executive Officer Singapore, Global Wealth Solutions
Willis Towers WatsonIan Kloss
Head of Region, South-east Asia & Chief Executive Officer, Singapore
Old Mutual InternationalSpeakers
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2.00pm
WealthTalk - Developments in universal life contracts
- Market trends
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2.10pm
WealthTalk - The fourth digital revolution in wealth management: information
- The financial institution that creates clients insights will be the winner in the future
- Why the currency of success is no longer investments products – but information
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2.20pm
WealthTalk - Financial wellness and inclusion
- Ventures from Lumenlab’s portfolio
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2.30pm
WealthTalk - The demise of retail asset-allocation advisory
Dennis KhooManaging Director, Head, Regional Digital Banking and Strategic Initiatives Office
UOB Bank
- Huge liquidity in the market has distorted asset class behaviours
- Managing retail customers using asset-allocation has always been challenging
- How does needs-based, goal based and asset allocation differ?
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2.40pm
Presentation - The quest for client loyalty and value: re-assessing the digital landscape
This will discuss what matters most to clients and how digital advancements are changing the way clients select wealth management providers. Mark will examine key priorities for the HNW digital experiences, gaps in delivery and where firms should direct efforts to demonstrate value and deepen client loyalty. The purpose of this presentation is to engage the audience on several levels:
- Define past, present and future view of the digital landscape
- Identify technology experiences that impact loyalty
- Strategise the areas of high-impact for technology focus to drive engagement and loyalty
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2.50pm
WealthTalk - Smart beta: active versus passive investing
- What is the appetite of investors for passive and active strategies?
- How to build relevant portfolios today
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3.00pm
Refreshment & Networking
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3.25pm
Head - to - Head Q & A - Finding the right technology partner
- With the continuing challenge to profitability for many private wealth management firms in Asia, how can a technology solution provider help?
- What should Asian private wealth managers be doing to take advantage of real innovation/automation, to benefit both clients and the firm’s own profitability?
- What can digitisation mean for Asian private wealth management firms?
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3.35pm
Panel Discussion
Will we be able to change our own mind-set – and that of our clients – and focus on long-term goals and portfolio construction?
- How can we further develop the advisory proposition and make more money out of it?
- What do we need to do to move away from commissions and towards fee-based models?
- Will clients embrace this approach?
- Can the regulatory environment be our friend in driving greater transparency?
- What will be the impact of the AI regime?
- How do we get more of a client’s total wealth?
- Investors hold a mutual fund for 4 years on average in the US, but only a few months in Asia. Will this ever change? Does anyone really want it to?
- How do we make portfolio construction core to the offering?
Chair
Michael Stanhope
Chief Executive Officer & Founder
HubbisPanel members
Shrikant Bhat
Managing Director, Regional Head of Investment Product
CitiPascal Meilland
Head of Discretionary Portfolio Management Asia
Indosuez Wealth ManagementVictor Lye
Group Head of Independent Financial Advisers & Benefits
FWDVineet K Vohra
Director & Practice Leader
Arete Financial PartnersErnest Ong
Senior Consultant
MercerSpeakers
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4.20pm
Panel Discussion
How will you deliver investment performance and client expectations in 2H 2017?
- What’s the process to improve performance?
- Where can we find returns that match investor expectations?
- Are all the easy wins done with - now the leveraged bond game and others have come to an end?
- What are the biggest risks for 2H 2017?
- How will geo-political risks impact the landscape?
Chair
Michael Stanhope
Chief Executive Officer & Founder
HubbisPanel members
Pankaj Nagrath
Investment Counselor
Bank of SingaporeTuck Meng Yee
Partner
JRT PartnersNg Hwee Jan
Regional Head of Equity Research
RHB Asset ManagementSpeakers
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5.05pm
Forum Ends
Asian Wealth Management Forum 2017
Mandarin Oriental Hotel,Singapore
Rohit Bhuta
Michael Gerber
360F
Vineet K Vohra, CFA
Arete Consulting
Walter de Oude
Aviva Singlife
Pankaj Nagrath
Barclays
Craig Ellis
Charles Monat Associates
Shrikant Bhat
Citi
Richard Vargo
DBS Bank
Albert Chiu
EFG Bank
Shyh Jih Lee
ERI
Victor Lye
FWD
Gregory King
FactSet
Andrew Waddell
Friends Provident International
Jason Moo
Goldman Sachs
Debbie Lee
HSBC Insurance
Scott Moore, IMCM
Henley & Partners
Dominic Volek
Henley & Partners
Alexis Tan
Henley & Partners
Jim Kelso
Howden Private
Andreas Wenger
IMTF
Tuck Meng Yee
JRT Partners
Torsten Linke
Julius Baer
Conrad Lim
LGT Bank
Shwetank Verma
Leo Capital
Teresa Kong
Matthews Asia
Ernest Ong
Mercer
Mark Nelligan
Pershing Singapore, a BNY Mellon company
Douglas Lee
Portcullis Investment Office
Ian Kloss
Quilter International
Hwee Jan Ng
RHB Asset Management
Patrick Donaldson
Refinitiv, an LSEG Business
Chan Kum Kong
SGX
Simon Lints
Schroders Wealth Management
David Vignola
Standard Chartered Bank
Michael Benz
Synpulse
Michael Blake
UBP
Dennis Khoo
UOB Bank
Andrew Hendry
Westoun Advisors
Asian Wealth Management Forum 2017
Mandarin Oriental Hotel,Singapore
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Asian Wealth Management Forum 2017
Mandarin Oriental Hotel,Singapore
We were delighted to host our 8th annual event in Singapore for the regional wealth management industry. 400 senior individuals attended – including CEOs, senior management, product gatekeepers and business unit heads in technology, compliance, operations, risk and advisory from the leading Private Banks, Retail Banks, IFAs, Family Offices, Insurance Companies, and other Independent Wealth Management Firms.
Event Summary
Mapping out the future for Asian wealth management
Our 7th annual event in Singapore for the regional wealth management industry brought together 400 senior individuals from across the community to discuss and debate the risks and opportunities ahead.
Highlights
Asian Wealth Management Forum 2017
Mandarin Oriental Hotel,Singapore