A report released by VP Bank, Family Offices in Asia, revealed that there is an upward trend in the number of family offices across Asia. Closer to home, Wong Partnership echoes this trend in their research article, ‘Rolling out the red carpet for family offices’.
The Society of Family Offices (SFO) is an exclusive, invite-only, network that caters to wealthy families and their family offices. It is first started in South East Asia in 2009, but has since expanded its footprint to Europe, America, Africa and the Middle East. They provide their members with online newsletters discussing insights on general wealth management, succession planning and investing opportunities etc. SFO also organises luxurious entertaining events that the members can both enjoy and network. An example of such includes a dinner and test-drive with Lamborghini.
In Singapore, there are many family offices that cater to the high net worth. Here are a handful of them. These are by no means a ranking of family offices – only a glimpse of the numerous established firms that service the rich.
Taurus Wealth Advisors (Taurus)
A multi-family office that first started in 2008 after the financial crisis, Taurus is led by CEO Mandeep Nalwa and is managed by a multi-national team of 20. Taurus believes in the most optimum alignment between their own financial interests and that of their clients. With this philosophy, they are now managing USD 1.7 billion worth of assets.
Veritas Private is a family office that is mainly based in Singapore and most recently, China. They believe in the strategic focus of key global trends and providing their clients with solutions for their financial issues. The main areas of focus include finance, risk management, private equity and technology services.
Self-proclaimed ‘independent Asian family office’, Stamford Privee abides by five objectives that revolve around prioritising their clients’ family needs. They believe strongly in converging their financial planning processes with their clients’ family goals. The management is spearhead by Koh Tien Hua.
Previs AG focuses on providing their clients with private wealth advisory, investor awareness and funding solutions. They are one of the pioneers in this industry, having been in the scene since 1967. Their services uniquely extend to corporate finance as they help clients with their investors’ awareness networking programmes and other related services. Some of their business networks include Privatebanking.com, Convention of Independent Financial Advisors (CIFA) and Zen Private Wealth Advisors, Inc. Previs is led by Marcus Moser, Roy Foo and Wolfram E Bohm.
Vistra (Singapore) Limited
Diligence, perceptive, collaborative and confidence. These are the four main values Vistra aims to uphold as they pride themselves in helping their clients optimise their international businesses. They not only serve private families, but also business owners, fund managers and corporate clients. One of the more tech-savvy firms, they reach out to the public via their twitter accounts.