Wealth in Singapore: HNW Customers



Verdict Financial

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Part of a three-part series, this report is based on our 2013 and 2014 Global Wealth Managers Surveys. The survey results are accompanied by best practice case studies on how to target Singapore HNW individuals where applicable.

Evaluate product and service demand among Singaporean HNW individuals from discretionary asset management to art advisory and credit.
Analyze the best methods to capture new Singaporean HNW clients and how best to maintain communication during the client relationship.
Interpret the investment portfolios of Singaporean HNW individuals through detailed asset allocation analysis.
Understand the major sources of HNW wealth in Singapore.

How do Singaporean HNW individuals amass their wealth?
What investments make up a typical Singaporean HNW investment portfolio?
Which wealth management products and services are in demand in Singapore?
How often do Singaporean wealth managers have contact with their clients through email, social media, and face-to-face meetings?
How do Singaporean HNW individuals compare to their peers in Asia?

Key Highlights
Singaporean HNW individuals have amassed wealth mainly through earned income and business ownership. The most prominent industries are financial services and manufacturing, with a larger than typical expat opportunity. The high degree of inequality in some fields has also skewed the HNW population towards financial services.

The average Singaporean HNW portfolio invests heavily into property, equities, and corporate bonds. Local HNW individuals favor direct investment into bonds and cash but are content to use funds for classes like commodities and, increasingly, property and equities.

Wealth managers foresee a rebalancing of HNW portfolios away from bonds and equities further towards alternatives, property, and cash. The process will be driven by the robust performance of the regional economy, which should support higher valuation for properties and higher rates for deposits.