The Association of Independent Asset Managers (AIAM) Singapore: Towards A 2020 Vision For Independent Wealth In Asia
22 Mar 2017
1.Asia’s independent wealth management community is an increasingly inﬂuential and expanding segment.
2.Industry collaboration will foster best practices in relation to regulations, digital integration, risk management and all peripheral industries.
3.Given the backdrop of the evolving economy, stakeholders must come together to drive industry involvement.
Increasingly influential and expanding segment
The forum drew more than 300 practitioners from IAMs, multi-family offices and private banks, of which 31% hold C-level job roles. Over a full day of panel discussions, participants explored pertinent industry concerns, such as the survival of the fittest, thriving as independent wealth managers and what professionals can do as an industry to refine IAMs’ value proposition.
Mr. Steve Knabl, AIAM Singapore President, Chief Operating Officer and Managing Partner at Swiss-Asia Financial Services, said in his keynote address, “Singapore’s independent asset management industry is thriving, and this entrepreneurial private sector is strongly backed by our regulator as well as the partner banks who provide us with robust and top tier banking platforms.”
Industry collaboration will foster best practices
Looking ahead, collaboration amongst many industry players will foster best practices in relation to regulations, digital integration, risk management and all peripheral industries.
Mr. Sascha Zehnter, AIAM Associate Member, Managing Director, Head of External Asset Managers, Southeast Asia Private Banking Division and Head External Asset Managers, Asia-Pacific Platform at Credit Suisse, said, “From the bank’s standpoint, the External Asset Management (EAM) industry in Asia has a promising outlook. The population of high net worth individuals in Asia is at its highest we have ever seen. With the EAM model, target segments can enjoy personalised, independent, consistent and transparent value propositions. Credit Suisse is proud to support the growing IAM industry through partnerships and dedicated global offerings.”
“The word Wealth Management is also evolving with the changing generations,” adds Mr Knabl. “As we approach 2020, we are operating in an environment populated by millennials and technology. If we don’t adapt, innovate and evolve, we may face extinction just like dinosaurs!”
Driving industry involvement
Effort by IAMs, along with private banks as custody platforms and even the regulator must come together to drive greater industry collaboration and promote a more inclusive professional involvement. Given the backdrop of the evolving economy, acquiring, building and harnessing new skills such as digital, are critical success factors to cope with radical changes in the industry.
Mr. Urs Brutsch, AIAM Ordinary Member, Managing Partner and Founder at HP Wealth Management, said, “Hubbis has once again put together an event where key players in the IAM space were represented. This is a crucial get-together for the industry on its journey to become a key segment in the wealth management industry in Singapore.”
About the Association of Independent Asset Managers (AIAM) Singapore
Established in 2011, AIAM is the professional body for Independent Asset Managers (IAMs) in Singapore. Recognised by the Monetary Authority of Singapore (MAS), AIAM is a voluntary commitment by a team of professionals united by the same dedication to build a local community for fellow IAM practitioners. Please visit www.aiam.org.sg for more information.