AIAM Singapore Committee Update
President & Vice President's Note
Since its inception in 2011, the Association has become a vital contributor in the Singapore wealth management industry.
- We maintain an open dialogue with the MAS and promote best practices in our industry.
- We provide regulatory updates, training development and networking events for our members and community.
- We provide our members —free of cost— a centralised compliance support centre.
- We provide multiple resources on our website and offer benefits to support our members’ businesses.
- We provide trusted service providers a platform to showcase their services and products that are relevant for our members.
2020 was a difficult year with many challenges, where physical events had to be cancelled. However, thanks to the efforts of the entire Committee together with members’ engagement, we have been able to navigate the year and continue to provide value for our community. In particular, we would like to thank everyone who contributed to The Courage Fund – an AIAM initiative to give back to the less fortunate.
As we conclude 2020, let’s take a moment to look back on the previous months.
AIAM and our associate members held a dedicated compliance webinar and various educational sessions regarding Covid-19 and the surrounding uncertainties brought upon by the pandemic during a hectic Q2.
In Q3 we hosted, amongst many other webinars, our virtual Annual General Meeting and Elections, where we gathered 70 participants and obtained a quorum for voting of the new committee.
To round off the year, we have conducted educational webinars, virtual gatherings, and a regulatory & compliance session on significant updates, well attended by over 90 members.
Moving forward, with the newly elected Committee Members, AIAM will strive to continue to find new ideas to provide our members with support and benefits in order to thrive in today’s ever-changing wealth management landscape, even when some of our traditional ways of operating are still being compromised. One of the initiatives in the pipeline for 2021 is a Campaign to increase the awareness of the IAM industry amongst the general public.
On behalf of the Committee, we would like to express our gratitude for your continued commitment and support, and we remain hopeful that we can meet with each one of you in person again in 2021.
Lucie Hulme – AIAM President
Jolene Tan – AIAM Vice-President
AIAM Committee 2020 - 2022
As of the end of December 10, 2020, the AIAM account balanced stood at SGD 409,187.29.
Anthony Huston – AIAM Treasurer
To date, we have a total of 35 Ordinary Members and 41 Associate Members.
Please join us in welcoming the following 4 new members in FY 2020/2021
Alexander Floersheim – AIAM Secretary
Regulatory & Advocacy Update
One of the association’s primary goals is to help its members understand the ever changing regulatory environment. This is why a significant amount of its budget is allocated to the compliance support centre and training. Visit our members’ area to find useful templates, previously asked questions, presentations and our official AML/CFT FAQ.
We have also negotiated special rates with some service providers which are available under useful resources.
Do reach out to the committee should you have ideas or suggestions.
Chiara Bartoletti – AIAM Regulatory & Advocacy
With the ‘new normal’ of meetings and conferences in play, the AIAM ran 27 webinars with our Associate Members and 2 Compliance webinars of our own for 2020. We would like to thank our Associate Members for these efforts in reaching out to our community and supporting us with interesting and engaging webinars.
Remembering that we are stewards of our client’s assets and the wealth management industry is doing relatively well compared to many other industries, the committee looked to contribute back to the community amidst the crisis. The lingering effects of Covid have weighed down the less fortunate, and AIAM Singapore would like to thank those who supported and participated in our Q2 campaign for encouraging staff, family, and friends of the Association of Independent Asset Managers (AIAM) member firms to contribute towards The Courage Fund.
SGD 23,438 for Community Chest was raised from 24 donors. AIAM Singapore matched 20% and contributed SGD 4,687 for a total of SGD 28,125.
The donations have gone towards supporting and providing relief to vulnerable individuals and families, including healthcare workers, frontline workers, and volunteers, affected by the COVID-19 situation.
Edwin Lee – AIAM Education