Some have surpassed the key S$1 billion threshold in terms of assets under advisory, buoyed by clients’ rising wealth levels and growing sophistication
FINANCIAL advisory (FA) firms – long regarded as a marginal segment in the distribution of funds and insurance products – are coming into their own, thanks to a rising demand for wealth management services among affluent Singaporeans.
Some FA firms have surpassed the key S$1 billion threshold in terms of assets under advisory (AUA), buoyed by clients’ rising wealth levels and growing sophistication.
Banks and tied insurance agencies continue to dominate the distribution of insurance and funds. But more clients today seek comprehensive advice including access to instruments such as exchange traded funds (ETFs), stocks and bonds, as well as legacy planning – areas that insurers and banks may not be able to fulfil.
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