Asia – The New 'Frontier' For Wealth Planning

A booming Asian client sector highlights the need for Guernsey to focus expertise on the region, according to Marcus Hinkley, partner and head of Collas Crill's Singapore office.

Asia represents the 'new frontier' for private wealth. Numerous private studies have echoed that the Asian region, led by China, Hong Kong, Singapore and Indonesia, are the fastest growing for new global millionaires and consequently, the East has become the most important region for those in the private wealth industry.

This area has potential for significant growth given Singapore's burgeoning wealth management industry, with many referring to it as the 'Switzerland of Asia'. Already the go-to investment destination for Southeast Asia, Singapore is increasingly attracting wealth from further afield, including mainland China, as well as wealthy individuals to its shores.