Event Agenda
8.30am
Registration
8.55am
9.00am
Keynote Address
- How IFCs have evolved and what the future now holds
- Beneficial ownership: what just happened?
- White Paper: The Evolution of family offices in Asia - Views from Asia’s Wealth Management Community
9.10am
Panel Discussion
The Big Picture: Trends in Wealth Structuring and Legacy Planning in Asia
- Is the turmoil in Hong Kong a game changer in the Hong Kong vs Singapore debate? Will it have different impacts on fiduciary services providers (trustees, etc) relative to asset management services?
- Where is money moving in the context of rising global social geopolitical risks?
- What is the key driver for structures in Asia today?
- Are clients seeking to make their structures simpler or more complex? Why?
- How well prepared are Asian clients for wealth transition? Is time of the essence?
- In which jurisdictions do Asia’s wealthy prefer to house their structures? Why?
- Why is Asia witnessing a proliferation of single-family offices (SFOs) and multi-family offices (MFOs)?
- Are more Mainland Chinese investors seeking to keep or to move assets offshore?
- What motivates a client today to have a ‘structure’ in an IFC? Succession planning? Diversification? Asset protection? Privacy?
- What new structures are in favour, and how are clients simplifying their existing structures?
- What are the most important factors in selecting an IFC? Are your Asian clients sufficiently inquisitive about the quality and integrity of the IFCs they use?
- Are the more exotic jurisdictions, such as those in the Caribbean, still able to complete?
- Is the wealth industry doing enough to educate Asian clients on structures and legacy planning?
- What role does investment migration play in wealth structuring?
9.55am
Head - to - Head Q & A
- Why is the Investment Migration industry booming?
- Why does Henley & Partners attend Hubbis events?
- Where do our clients come from?
- Why do PBs/IAMs etc. work with us?
- How can Henley & Partners help your HNWI clients?
10.05am
Presentation
- According to recent studies, 59% of youth in Singapore are not happy with their family wealth manager. What are their options and how will that affect the private banking business?
- With this change in sentiment within young people, how can advisory firms develop strategies that will appeal to the future generation of wealth?
10.15am
Panel Discussion
Getting Down to Business: How Banks and Advisers Can Help their Clients
- Are banks able to attract clients to fee based wealth advisory mandates?
- Is a bank’s ability to become the “trusted advisor” dependent on its ability to have a fee based service?
- How much can a bank’s wealth planner do directly, and how much of the role involves co-ordination with external advisors? How can the wealth planner be compensated for this?
- Are professional advisors (law firms, etc.) too transactional in their approach to solutions? Do they need to be more holistic in their approach to the pricing, delivery and ongoing management of solutions?
- How do you approach HNWI clients and their families, so they truly focus on legacy planning?
- Are Asian clients sufficiently organised? Or what can they do to up their game?
- Is the wealth management community sufficiently expert at handling the required conversations?
- Are Asian clients able to open up enough to allow bankers to help formulate solutions?
- Are banks and other wealth advisers providing what the Asian clients actually need?
- How, if at all, are the banks adapting to monetise this segment and incentivise RMs?
- Is the wealth management community working effectively with legal advisers, trustees and others?
- Are Asian clients prepared to pay for the services and advice of the banks and wealth managers?
11.00am
Presentation
Family dynamics should always be considered by Wealth advisers when structuring a wealth succession plan. In this presentation Marcus Hinkley will consider relevant family issues surrounding the succession of wealth, be it family governance, what’s in a family constitution, the impact of divorce, second marriages, balancing the expectations of children or the effects on family wealth of living longer.
11.10am
Refreshment & Networking
11.35am
Head - to - Head Q & A
Philanthropy is important - and can put a smile on your face
- Tell us about the charity Smile Asia? And why you got involved?
- Why is Philanthropy important?
- What advice would you give to RMs to evolve this opportunity with their clients?
11.45am
Presentation
Federico Vasoli
Director, dMTV - International Legal and Tax Guidance, Member of FinanceMalta
FinanceMalta
Director, dMTV - International Legal and Tax Guidance, Member of FinanceMalta
FinanceMalta
- Overview on Malta's solutions
- Singapore-Malta tax advantages
- International blockchain-based asset management solutions
11.55am
Presentation
- Singapore Life Innovations with focus on the HNW space
- HNW insurance outlook 2020
12.05pm
Presentation
- CRS Common Reporting Standard – Developments - Participating vs Permanent Non-Reciprocal Jurisdiction
- AEOI Automatic Exchange of Information - Transparency & Tax Planning – Territorial vs WWI taxation
- AEOI and CRS practical experiences
12.15pm
Presentation
- Stand-alone trust as the instrument of choice.
- The Wealth Management industry in the era of CRS
- Switzerland and lump-sum taxation, an attractive alternative?
12.25pm
Panel Discussion
Viable Legacy, Transition Planning for the Generations: How can this be achieved?
- What kind of challenges are being created by CRS to the appointment of Enforcers and Protectors?
- Are Enforcers and Protectors aware of their roles and responsibilities and kept up to date with the core family situational developments?
- What are the key differences between the current and future generations of Asia’s clients?
- How do private banks and wealth management firms build family-wide relationships?
- Are today’s RMs building meaningful conversations with families about wealth and family business succession issues?
- Are bank RMs and others in this industry sufficiently knowledgeable and sensitive to service these clients?
- How do you steer family wealth planning towards a multi-generational vision?
- What role should robust family and family business governance play, and why?
- Is enough being done to mitigate or avoid family disputes?
- What role will Foundations play?
- Are the NextGens prepared for wealth and family business transition?
- How does the wealth community appeal to these NextGen clients? Events? Sustainable investment forums? Or?
- Are there more opportunities to offer diversified advice to the younger generations?
- How does the industry offer the client better ideas and greater value?
1.10pm
Lunch & Networking
1.10pm
Room A – Workshop
Insurance Stream
1.50pm
Room B – Workshop
- Introduction to the Investment Migration Industry
- Citizenship-by-Investment: Travel and Settlement Freedom for HNWIs
- The world’s leading Residence-by-Investment Programs
1.50pm
Panel Discussion
What is the state of play for insurance solutions in Asia’s wealth and legacy planning?
- What's the level of interest and demand from your clients in using insurance products and solutions - to either transfer wealth and / or optimize tax?
- When you consider all the options - UL VUL PPLI ect – what most relevant today? For you? Your clients?
- What product innovation are we seeing?
- When you think about the structure and platform and investments - what are the challenges / concerns and opportunities?
- Can you consider possibilities where this can enhance your relationship with clients?
- Is Hong Kong favoured as a jurisdiction for life insurance solutions? Will that continue?
Woon Shiu Lee
Managing Director & Group Head of Wealth Planning, Family Office & Insurance Solutions
DBS Private Bank
Managing Director & Group Head of Wealth Planning, Family Office & Insurance Solutions
DBS Private Bank
2.30pm
Room B – Workshop
There has never been a more opportune time than now to leverage on the people-centered needs-driven principles and methodology of Design Thinking in order to successfully embark on a much needed journey of recalibration and strategic rethinking within the private banking and wealth management industry. Future generations of affluent clients and their powerful families are changing the private banking and wealth management industry, with new expectations around satisfying needs and terms of engagement. They have increasing wealth but different demands that will be different from previous generations.
The workshop will cover these topics:
- Share how Design Thinking can uncover a wealth of insights into the evolving needs of the future generation of wealth clients.
- Share industry examples of how Design Thinking is embraced and applied within the private banking and wealth management industry.
- How Design Thinking can personalise and socialise engagement with affluent clients.
2.30pm
Room A – Workshop
Insurance is a people business first and foremost, but one that can only be managed effectively with the appropriate planning and process.
3.10pm
Refreshment & Networking
3.30pm
Panel Discussion
A World of Regulation: How can Clients Overcome the Hurdles?
- Is the idea of mid-shoring gathering momentum?
- Are Asia’s HNWIs and their advisers getting to grips with CRS reporting?
- What impact is CRS reporting having on the proclivity of Asian client to multi-bank?
- Are CRS audits manageable or cause for concern?
- What pressure will the Mandatory Disclosure Rules that the OECD has published impose?
- Are clients adapting to FATCA and FATCA audits?
- What is the impact of the new Economic Substance regimes on clients, on structures, on the IFCs?
- What is the outlook for and potential impact of beneficial ownership registers?
- What are some of the key issues surrounding probate and companies / structures in the IFCs?
- Is it a one-way street for regulators, or are we likely to see more challenges surrounding privacy issues?
- Are Asian investors and families taking advantage of the lower US corporation tax rate to structure or restructure US real estate holdings?
- Are trusts, private trust companies, offshore corporate structures or fund-related structures in favour?
- Are Asia’s HNWIs now accepting the need for a true distance between themselves and the trustees?
- As the role of trustees comes under greater scrutiny, are clients trending toward in-house bank trusts, or external trustees?
4.15pm
Panel Discussion
Offshore Centres: Singapore, Hong Kong, the Channel Islands? Or?
- Is the MAS likely to enhance the Trust Laws in Singapore to enable perpetuity of Singapore Law trusts and to enable the use of non-charitable purpose trusts as the holders of PTC structures?
- Hong Kong vs Singapore, what is the state of play? Is it all about tax breaks? Or?
- What roles are Singapore and Hong Kong likely to have in the future?
- Hong Kong is favoured as a jurisdiction for life insurance solutions. Will that continue?
- Why are there more and more SFOs and MFOs and which jurisdiction is winning their favours, why and how?
- Is Singapore becoming the ‘go-to’ centre in Asia for HNWIs and ultra-HNW families?
- Is the Singapore Variable Capital Company (VACC) a game-changer?
- Must Asian clients house their wealth and structures in only the most reputable centres, or risk tarnishing their reputations?
- What do IFCs need to do to prove their value and quality to with Asia’s wealthy?
- Are these non-Asian IFCs doing enough, or being effective enough in working with Asian clients, bankers and Asia’s offshore jurisdictions?
- Are the more exotic jurisdictions, such as those in the Caribbean, still able to compete? If so, in which areas?
Woon Shiu Lee
Managing Director & Group Head of Wealth Planning, Family Office & Insurance Solutions
DBS Private Bank
Managing Director & Group Head of Wealth Planning, Family Office & Insurance Solutions
DBS Private Bank
5.00pm
Forum Ends