Broaching the topic of succession planning has always been culturally sensitive, particularly in Asia. However, it remains important to approach the issue across societies, and this needs to be done with understanding and empathy.

In the first video,  a panel of wealth experts talked about the independent space in Asia and how consolidation is likely to take shape. In the second of a four-part series, they dig deeper into competition in the industry. While most agreed competition is healthy for the business, some felt they were competing on an uneven playing field because of the lack of transparency.

Growing demand for independent advisory services among wealthy Asians has seen the rapid expansion of boutique wealth firms in Singapore and Hong Kong. These outfits including multi-family offices and independent asset managers are mostly run by former private bankers who took a leap of faith to go it alone.

Ultra-high net worth individuals are looking for guidance on legacy preservation and creating family offices as they reconsider existing financial arrangements amid the pandemic, multi-family office Golden Equator Wealth told WealthBriefingAsia recently.

The need for professional and independent family office services is growing and this means that ‘we are in expansion mode,’ Gary Tiernan, managing partner of Golden Equator Wealth told Citywire Asia.

In November 2019 veteran international wealth professional Gary Tiernan took up the role of managing partner at Singapore-based multi-family office Golden Equator Wealth.