In the first video, our panel of wealth experts talked about the independent space in Asia and how consolidation is likely to take shape.
In the second of a four-part series, they dig deeper into competition in the industry. While most agreed competition is healthy for the business, some felt they were competing on an uneven playing field because of the lack of transparency.
Here is a little teaser just before you hit play.
‘In a competitive saturated environment when everyone else is saying the same thing, but doing something else, makes it hard to be competitive.’
‘I am very pleased if there are banks or EAMs who are not so transparent. I love it. It makes me look much better.’
‘The competition is not just from your own peers, but also from private banks and fund managers.’
The six experts who took part were:
Chi Man Kwan, founder and CEO of Raffles Family Office, Hong Kong
Anthonia Hui, CEO, AL Wealth Partners, Singapore
Gary Tiernan, managing partner, Golden Equator Wealth, Singapore
Rohit Bhuta, CEO, Crossinvest, Singapore
Jessica Cutrera, founding partner and private client advisor, The Capital Company, Hong Kong
Urs Brutsch, managing partner and founder, HP Wealth Management, Singapore
Coming up next is their take on ‘private bankers and talent search’.