New wealth is growing in Asia and that it will continue to be
the case for the next few decades is an understatement. The
continued global uncertainties, economic instability of the
developed nations of the West, a volatile global wealth market,
increased frequency of terror threats and attacks and high mobility
of wealth and capital spring no surprise that Asia is growing as a
major wealth management market and Singapore is in a sweet spot to
consolidate its position as an international wealth management
centre.
Many factors contribute to the growth of Asia's wealth
management market. First, there are an increasing number of high,
and ultra high, net worth individuals in Asia, particularly from
China, India and Indonesia, giving rise to a natural need for
wealth protection. Also, as entrepreneurs and patriarchs/matriarchs
age, they will look into wealth succession. It is common knowledge
that many from the second and third generations of such families do
not wish,
