Private wealth

Expand eligible investments as part of SFO tax framework tweak, industry observers say

Market players say that it is timely to include digital assets, precious minerals, insurance and family businesses

Even in the face of scandals, the Republic has been able to maintain its stature as a global wealth hub.

Fujian gang, Prince Group money laundering incidents unlikely to dent Singapore’s appeal as wealth hub

MAS likely to go ahead with simplifying the single family office tax incentive framework in the face of rising competition

Luxury brands operate in an environment where tastes can change quickly and competition could intensify.
SENSE & CENTS

Riding on the appetites of the wealthy by investing in luxury carries risks

Tastes change, operating environments are tricky, competition may intensify and rich folk may be political targets

Asia has become the world’s fastest-growing financial hub, with private wealth projected to reach US$99 trillion by 2029.

Wealthy Asian families face succession woes as scions have different ambitions, mindsets: report

The preferences of the younger set should be factored into succession planning, and professionalisation is the pragmatic solution

Nearly two-thirds of HSBC's global private banking clients in Singapore are entrepreneurs, says the lender's head of global private banking.

HSBC launches ‘entrepreneurial wealth proposition’ in Singapore

A recent report by the lender names the Republic as entrepreneurs’ top destination for wealth and relocation

Vietnam had an estimated net outflow of around 300 high-net-worth individuals in 2024, said a recent report. The figures in 2022 and 2023 were 100 and 150, respectively.
ASIA UNPACKED

Why are millionaires leaving Vietnam?

Even as the rich move money and citizenship abroad, Vietnam is trying to lure talent back home

Private banks are hoping to entice ultra-rich individuals with products that serve as alternatives to family offices.

Higher operating costs are a stone in the shoe – even for the rich eyeing family offices

These ultra-high-net-worth investors are turning to banks which offer alternative ways of managing their wealth

Francois Pictet says: “Why would you make an acquisition unless you want to show growth to your shareholders? In finance, growth by hiring the right people is more effective.”

Ninth-generation Pictet leader banks on organic growth and partnerships

Carrying the family name is a privilege, but it brings its fair share of pressure too, says managing partner Francois Pictet

Despite heightened uncertainty and rising living costs, nearly two-thirds of affluent investors in Singapore remain confident about achieving their long-term financial goals.

US$1.39 million: That’s the sum Singapore affluents say they need to retire comfortably

This is above the global average of US$1.05 million, according to an HSBC survey

Traditional destinations for the wealthy such as Singapore (pictured) appear to be losing their appeal, with their lowest net inflows on record provisionally expected in 2025, a report by Henley & Partners shows.

Singapore’s millionaire inflow to halve in 2025: report

Meanwhile, Thailand emerges as South-east Asia’s new safe haven, while China’s outflow of affluent individuals slows