Helping Asian Wealth Management Communities interact

Indonesian Wealth Management Forum 2019

Shangri-La Hotel, Jakarta,Indonesia

We were delighted to host our 9th annual event for the Private Wealth Management community in Indonesia.

More than 250 CEOs, COOs, Independent Asset managers and other senior practitioners attended – from a mix of local and international Private Banks, Retail Banks, Insurance Companies, Independent Firms & Family Offices, Asset Management Companies, and IFAs.

Thank you to all of our event partners: Henley & Partners, Comarch, Swissquote, Wealth Dynamix, 360F, Additiv, Bordier & Cie, DWS, Intellect Design Arena, Wealth Intelligence - Contemi Solutions, Sun Life Financial, Bunker Gold & Silver, Expersoft Systems, FNZ, Hawksford, IMTF, J O Hambro Capital Management, J. Rotbart & Co., Malca Amit, Onchain Custodian, Singlife and Sovereign Group.

Below for your interest and reference are links to various content we captured from the day. Please click on the orange headlines – and do send any comments or feedback to events@hubbis.com.

 

Content Highlights 

Video Highlights
Video Highlights Summary PDF
Exclusive Insights
Testimonials
I Love Wealth Management
Photos
Event summary
Panel discussions
Presentations & Workshops
Videos
Post event Supplement

 

Post-event Report

You might also like to view the full Post-Event Report – which is a consolidated summary, including photos of speakers & delegates, the attendee profiles & some delegate feedback, polling results, and more.

 

Event Summary 

Indonesia - Great Opportunity Lies Ahead for Wealth Management
We were delighted to host our 9th annual Indonesian Wealth Management Forum on October 17 in Jakarta. 

 

Video Highlights

We asked leading industry experts - what are the opportunities and challenges for the year ahead? View the combined video highlights, or click on the links to view the individual videos.

Full Video Highlights
Video Highlights Summary PDF

I Love Wealth Management
Testimonials

Kenneth Ho, Managing Partner & Founder, Carret Private Investments
Samdarshi Sumit, President Director & CEO, PFI Mega Life Insurance
Edy Tuhirman, Chief Executive Officer, Generali
Ivan Jaya, Head of Wealth Management & Retail Digital Business, Commonwealth Bank
Nagaraj Prasadh, Country Head, Intellect Design Arena
Handry MulyoManaging Partner, Kolega Capital
Koh Keng Swee, Executive Director, Head of Investment Product and Advisory, DBS Bank
Antony Dirga, Chief Executive Officer, Trimegah Asset Management
Simon Lints, Chief Executive Officer, Singapore, Schroders Wealth Management
Mark Buesser, Chief Executive Officer, IMTF
Irene Lee, Director, Head of Business Development, Alpadis

 

Exclusive Insights ​​​

We asked leading industry experts for their exclusive and incisive insights. Click on the links to view the individual videos:

Exclusive Insights PDF

Kenneth Ho, Managing Partner & Founder, Carret Private Investments
You (Carret Private Investments) recently merged with Lumen Capital Investors. What motivated that deal?

Samdarshi Sumit, President Director & CEO, PFI Mega Life Insurance
Is the Insurance offering in Indonesia evolving rapidly enough?

Edy Tuhirman, Chief Executive Officer, Generali
What should the regulators do to help spur further development?

Ivan Jaya, Head of Wealth Management & Retail Digital Business, Commonwealth Bank
What digital expectations do clients have?
Are traditional banks attractive enough for the new wealth creators and next generation of customers?

El Lee, Co-Founder and Chief Operating Officer, Onchain Custodian
Who is Onchain Custodian?
How will we see the growth of digital asset investments grow in Asia?

Nagaraj Prasadh, Country Head, Intellect Design Arena
What does Intellect Design Arena do?
What are all the component parts you need to build a sustainable and profitable wealth management business?

Handry Mulyo, Managing Partner, Kolega Capital
What must the regulators do? Why don’t they do it?

Koh Keng Swee, Executive Director, Head of Investment Product and Advisory, DBS Bank
For years there have been discussions about opening international investments to Indonesia for distribution onshore, but will it ever happen?

Antony Dirga, Chief Executive Officer, Trimegah Asset Management
Any interest in ETFs? And interest in ESG?

Simon Lints, Chief Executive Officer, Singapore, Schroders Wealth Management
What do you need to do to be a successful wealth manager today?

Mark Buesser, Chief Executive Officer, IMTF
What are the trends we are seeing globally around RegTech, KYC and onboarding?
Given the trends we are seeing globally around RegTech, KYC and onboarding – how is IMTF enhancing your platform?

Irene Lee, Director, Head of Business Development, Alpadis
Are we ready for the intergenerational wealth transfer?

 

Panel Discussions 

We held 5 interactive panel discussions throughout the day – which involved senior industry practitioners who we invited to participate and share their thoughts. We have also incorporated into the summaries below the briefing notes which speakers sent to us in advance of the event. Plus, we have included the results of audience polling as well as questions we received from delegates. Click on each headline to view the PDFs.

Enormous Opportunities, Great Challenges
Indonesia’s huge population is growing fast, and so too is the country’s private wealth. Money has flowed back onshore following the government’s tax amnesty, and the regulators are keen to keep that onshore and boost the onshore proposition. A panel of experts met at the Hubbis Indonesia Wealth Management Forum to give their views on the evolution of the industry and what needs to be done for it to develop more robustly. Greater regulatory creativity is needed, with the regulators working more closely with the private sector. There is a huge conservatism amongst those with money, with deposits the preferred option for more than 90% of the investible money, so market education surrounding investment products must expand rapidly. The same applies to the insurance market, where there are enormous protection gaps throughout the entire population. There is a dramatic shortage of talent to cope with the wealth management industry’s growth, but digital can help incumbent banks and other players boost their proposition.

Panel Members
Jens Reisch, President Director, Prudential Life Assurance
Edy Tuhirman, Chief Executive Officer, Generali
Simon Lints, Chief Executive Officer, Singapore, Schroders Wealth Management
Kenneth Ho, Managing Partner & Founder, Carret Private Investments
Samdarshi Sumit, President Director & CEO, PFI Mega Life Insurance
Salina Nordin, Founder and Group Chief Executive Officer, Heritage Amanah International

Platforms and Technology – Digital Transformation for Wealth Management
A panel of technology and FinTech experts, as well as wealth management users/clients, discussed the need for Indonesia’s wealth management firms to embrace digitalisation. They cast their eye over the challenges to be faced and gave some invaluable insights on how wealth management firms can enhance their digital platforms and systems to be both more competitive and more responsive to the needs and expectations of clients. The overriding impression from the discussion was that incumbent financial institutions in highly populous, less mature markets such as Indonesia are in an excellent position if they embrace digital effectively. Far from being fearful of FinTechs and challenger banks, for example, they should enhance their businesses by leveraging their existing client bases and reaching new customers through seamless digitalisation.

Panel Members
Dominic Gamble, Head of Asia Pacific, Wealth Dynamix
Ivan Jaya, Head of Wealth Management & Retail Digital Business, Commonwealth Bank
El Lee, Co-Founder and Chief Operating Officer, Onchain Custodian
Mark Buesser, Chief Executive Officer, IMTF
Reto Wolf, Head of Product, Asia Pacific, Additiv

The Drive to Boost the Onshore Investment Proposition in Indonesia
Four leading local and regional wealth management experts assembled to debate how the Indonesian market can boost its onshore proposition. After the tax amnesty and with Indonesia clearly wanting to retain as much money as possible onshore, the opportunities are increasing for local advisers and wealth solutions providers. But will the regulators move at the pace required tom liberalise domestic markets? Will the onshore providers be able to go it alone? Or will they need to partner with offshore private banks and other experts?

Panel Members
Antony Dirga, Chief Executive Officer, Trimegah Asset Management
Keng Swee Koh, Executive Director, Head of Investment Product and Advisory, DBS Bank
Ogar Renaldi Widjaja, Passive Sales, Head of South East Asia and Intermediaries, DWS
Handry Mulyo, Managing Partner, Kolega Capital

The Second and Third generations Await in Indonesia’s Wealth Management Market
The wealth management industry must develop its proposition and communication methodologies to gain maximum traction with the second and third generations of wealth in the country, especially as these individuals are more worldly and well educated. The regulator will also want to ensure that as much of this immense and rapidly growing wealth remains onshore, and more returns to the country so must also adapt proactively. An immensely experience group of experts assembled for this discussion, which is truly central to the future of Indonesia’s wealth management market.

Panel Members
Marcus Hinkley, Head of Private Client Services - Asia, Hawksford
Max Ezerins, Legal Consultant, Sovereign Group
Thomas von Rueti, Chief Commercial Officer, Singlife
El Lee, Co-Founder and Chief Operating Officer, Onchain Custodian
Irene Lee, Director, Head of Business Development, Alpadis

Building the Investment Capability and Refining the Wealth Management Proposition
The pace of evolution of Indonesia’s wealth management offerings is lagging behind the rest of the leading Southeast Asian countries, especially Malaysia and Thailand. How can the market improve? During the final panel discussion of the Hubbis Indonesia Wealth Management Forum, a team of experts ranged over the many areas in which the market can raise standards, enhance the range of products and services, boost expertise and enhance the customer experience.

Panel Members
Simon Lints, Chief Executive Officer, Singapore, Schroders Wealth Management
Richard Piliero, Regional Executive, Finaport

 

Presentations 

Below are summaries of the Presentations and Wealth TALKS delivered at the event. These were 10-minute slots hosted either by senior industry practitioners who we invited to speak (Wealth TALKS), or by some of our event partners (Presentations). Also listed with each summary are links to the presentation slides (where these are made available by speakers). Click on each headline to view the web versions of these – from which you can also access the 1-page PDFs.

Investing in Precious Metals: Time to Add Some Shine to HNWI Portfolios
David Mitchell, Founder and Managing Partner of Indigo Precious Metals and business associate Shiv Tulsiani, Key Accounts Executive at metals logistics firm Malca Amit, double-teamed for an insightful Workshop on physical gold, active management of precious metals portfolios, and the critical logistics of storing and moving items of great value. 
View slides

How Physical Gold Can Make A Key Addition to Any Portfolio
Maxime Fages, Head of Strategy & Digital Assets for Global Precious Metals, spoke to Michael Stanhope, Hubbis founder and CEO at the Indonesia Wealth Management Forum. Global Precious Metals has worked with Hubbis in recent years to promote the concept of holding physical gold to offset volatility in the mainstream financial investment portfolios, as well as because gold is outside the global financial and regulatory infrastructure.

Challenge the Challenger Banks – How to deliver digital wealth to the rising mass affluent
Reto Wolf, Head of Product for Asia Pacific at additiv, sees a bright future for the Neo and Challenger banks that serve the rising ranks of mass affluent in Southeast Asia. He addressed delegates at the Hubbis Indonesia Wealth Management Forum, focusing on the rise of the mass affluent markets, the arrival of the ‘Super Apps’ and the ‘Challenger Banks’ that are re-shaping the wealth management landscape in the region. He offered his insights on how incumbent banks can embrace digitalisation and compete more aggressively for this fast-expanding customer base of the future.

Comarch – Championing Digital to Boost Both the UX and the Employee Experience
Krzysztof Maurer, Managing Director of IT solutions provider Comarch, is spearheading the firm’s thrust into the wealth management and financial sectors in Asia. He told delegates at the Hubbis Indonesia Wealth Management Forum why well-honed digitalisation is more critical than ever to help improve the customer experience, but also stressed the importance of an enhanced employee experience, noting that their greater satisfaction is also a vital driver in the growth of businesses in the wealth management, or indeed any, sector.
View slides

Intellect Design Arena Extols the Virtues of its ‘2020 Advantage’ Digital Solutions Suite
Nagaraj Prasadh, Country Head for Thailand at Intellect Design Arena, addressed the audience at the Hubbis Indonesia Wealth Management Forum to highlight how the firm’s WealthQube gives the 2020 Advantage, describing how the digital product enhances the performance of relationship managers in the wealth management industry. He said it is possible to increase RM productivity by 20% and increase revenue by 20% at the same time, while managing the stringent regulatory requirements. All this is achieved through leveraging digitally enhanced outreach and contextualised experience, which results in actionable insights to direct the destiny of the business.
View slides

Unmasking CLM and How it Can Help Drive Wealth Management Sales and Growth
Dominic Gamble, the Singapore-based head for Asia Pacific at FinTech Wealth Dynamix, spoke to Hubbis founder and CEO Michael Stanhope in a Head to Head Discussion at the Indonesia Wealth Management Forum. His mission was to alert the audience of the great benefits of smart technology tools available today that can make RMs more powerful. He explained how they can use data to understand clients better, and to boost their overall proposition, their firm’s revenues and their own careers, while greatly enhancing the quality of their advice and the user experience.
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CLM Drives Wealth Management Sales and Growth
Dominic Gamble, the Singapore-based Head of Asia Pacific at FinTech Wealth Dynamix, gave delegates at the Hubbis Indonesia Wealth Management Forum a fascinating Workshop to alert them to key advantages and critical dangers of digital transformation, particular the great benefits of an optimal Client Lifecycle Management etiquette.
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Henley & Partners Opens the Door to a World of Investment Migration Options
Dominic Volek, Managing Partner, Head Southeast Asia at investment migration consultancy Henley & Partners, and Daphne Chandra, the firm’s Singapore-based Country Head for Indonesia, presented a detailed and highly informative Workshop to delegates at the Hubbis Indonesia Wealth Management Forum in Jakarta in October. Their talk highlighted just how many viable alternatives there are for Asia’s HNWIs seeking alternative citizenship or residence around the globe.
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The Virtues of Alternative Residence and Citizenship
Dominic Volek, Managing Partner and Head of Southeast Asia at investment migration consultancy Henley & Partners, gave a brief but very insightful presentation at the Hubbis Indonesia Wealth Management Forum to highlight the appeals of global investment migration, explaining why and how increasing numbers of Asia’s wealthy are taking up alternative citizenship and residence options around the globe, and briefly mentioning some of the major programmes that his firm proposes.
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Gold – The Real Asset for the Real World that is Performing Really Well
Joshua Rotbart, Founder and Managing Partner of precious metals firm J. Rotbart & Co., is passionate about gold, real gold. He gave an animated presentation to the audience at the Hubbis Indonesia Wealth Management Forum on how through history gold has proven its sustained value, and how the longer someone keeps it, the more it will appreciate. He said that the stars are currently tidily aligned for gold and Asia’s HNWIs should all keep a portion of their wealth in physical gold. And for wealth management advisers, working with his firm is an ideal way to leverage client relationships.
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Private Banking in Asia at a Crossroads
Wong Kok Hoe, Director, New Markets at Swiss boutique private bank Bordier & Cie, gave a fascinating insight to delegates at our Indonesia event into how boutique private banks are adapting to the demand of the market at present and anticipating the world of the future in which they will continue their growth trajectory. Bordier & Cie, which has been expanding its reach and proposition in Asia, believes that strategic partnerships with regional financial institutions are the right way forward.

Why Wealth Managers Need Effective Onboarding
Shane Meredith, Asia Director, FinTech & Wealth Advisory at Wealth Intelligence Contemi Solutions, told the audience at the Hubbis Indonesia Wealth Management Forum how effective digital client onboarding can be the key for wealth managers to reaching and servicing high net-worth individuals and the region’s younger generations of clients who are inheriting and creating the next vast wave of private wealth.
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Comarch Highlights How to Improve Key Touchpoints in Wealth Management through Digitalisation
IT solutions provider Comarch is one of the leaders spearheading the digitalisation of the wealth management and financial sectors in Asia. Grzegorz Prosowicz, Consulting Director and Parida Leelaniramol, Business Development Manager, combined to offer delegates a fascinating Workshop at the Hubbis Indonesia Wealth Management Forum. They turned the spotlight on how as wealth management firms evolve, well-thought-through digitalisation is more critical than ever. Improving the customer experience is not enough to stand out in the market, they told the audience and underlined how the employee experience is just as important a driver for business growth. They stressed that digital means both high tech and high touch and must achieve both a great user and provider experience to be truly effective.

DWS Reviews the Dynamic Global ETF Market and Analyses Recent Trends
Ogar Renaldi Widjaja, responsible for the distribution of Passive products in South East Asia for DWS, told the audience at the Hubbis Indonesia Wealth Management Forum why the more than USD5 trillion ETF market continues to expand and why passive strategies have been growing rapidly, despite a globally challenging market environment and a more volatile 2019. A wider than ever range of investors (including sovereign wealth funds, insurance companies, private banks, family offices) continues to adopt passive strategies and use ETFs in their portfolios. And thematic investing such as ESG and Artificial Intelligence are also gaining traction.
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HNW Insurance in Asia: A Review of the Innovations and Market Outlook
Thomas von Rueti, Chief Commercial Officer of Singlife, gave an informative and lively presentation to the delegates at the Hubbis Indonesia Wealth Management Forum on innovations in the life insurance space for Asia’s HNWIs and the wider outlook for the market, products and providers.
View slides