Following the Monetary Authority of Singapore (MAS)’s release of its annual report for 2016‐ 2017 at the end of June.

Lapses in the private banking and wealth management compliance have been brought into the spotlight. Money laundering and tax evasion scandals bring to question, are we doing enough for compliance and regulation?

The finance world – always porous to any new investment model that brings above-average returns. Over the last several years they have paid particular attention to non-traditional alternative investments to park one’s money in.

“The rich are getting younger and in order to work with decision-makers, it’s important to understand that their profile is different from the patriarch driven style of functioning,” said Shirley Crystal Chua, founder and CEO of Golden Equator Wealth, a Singapore based MFO. She notes younger generations of wealthy people are comfortable using technology to access various financial services, and says family offices need to recognise and adapt to these changes by adjusting their offerings and service delivery models.