We carry this report of comments made at the recent AIWM (Singapore) conference in Singapore by president Jolene Tan.
Geopolitical uncertainties and rapid technological change are
putting a premium on expertise and reliability – qualities that
the
Association of Independent Wealth Managers (Singapore)
stresses are essential for sustainable growth.
External Asset Managers (EAMs) and other forms of independent,
non-bank players, which have grown in Singapore in recent
years, are held to the same standards of operation and
conduct as banks. However, as a sector as a whole, it is
relatively modest, Jolene Tan (main picture), AIWM (Singapore)
president, and managing partner, SingAlliance Pte Ltd, said in
the association’s recent conference held at Singapore
Management University. (See a
feature from last year about the EAM sector, examining
the angle of custodians.)
“As the macro environment becomes increasingly complex
– marked by shifting geopolitics, technological disruption
and evolving regulatory expectations – independent wealth
management firms are operating in a landscape that demands
greater clarity, conviction and collaboration,” Tan said in her
address.
“While Singapore’s independent wealth management sector remains
relatively small, firms are held to the same rigorous standards
as large financial institutions, even as they navigate similar
challenges – rising operating costs, talent retention
challenges and evolving client expectations – with leaner
teams and tighter resources,” Tan continued.
Read Full Article At Source
