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Singapore’s single family offices likely to merge, find alternative models

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Tan Nai Lun

Tan Nai Lun

Published Tue, Mar 19, 2024 · 05:00 AM
    • Industry players expect wealthy families will share resources, or look for cheaper wealth management options to establish themselves in Singapore.
    • Industry players expect wealthy families will share resources, or look for cheaper wealth management options to establish themselves in Singapore. PHOTO: YEN MENG JIIN, BT

    WHILE Singapore remains an attractive global financial hub, wealthy families are now considering other options besides setting up their own single family offices (SFOs) here to better suit their needs.

    Industry players noted that SFOs in Singapore are likely to merge or find alternative models amid the rising cost of operations.

    “The trend of setting up a family office just as a fashion statement will likely come down,” said Sanjay Guglani, founder and chief investment officer of Silverdale Funds, and chief executive officer of Silverdale Capital.

    Family officesHigh net worth individualsVCCWealth managementSpotlight

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