However, this wealth boom also amplifies a longstanding challenge for the industry as it struggles to keep pace with the growing client base — attracting new professionals into this career. Traditional, personalised service advisory models, while effective, lack the agility, and nimbleness to meet the spectrum of client tastes and preferences today. Wealth management advisory needs refreshed approaches to unlock the new value and perspectives necessary.
Asia is the epicentre for wealth creation, preservation, and long-term legacy planning. Now, 9% of the world’s family offices are based in Asia, of which 59% are located in Singapore. By 2025, financial wealth in Asia, excluding Japan, is expected to surpass that of the United States.
Part of this dynamic is global macroeconomic change. The International Monetary Fund (IMF) predicts that Asia will contribute approximately 60% of global economic growth by 2030. This surge will be driven largely by India, China, and Southeast Asia, which will account for the vast majority—90%—of the 2.4 billion new members of the middle class entering the global economy.
