With the recently tightened criteria on tax incentives 13O and 13U announced by the MAS on Monday, Gary Tiernan, CEO of Capital at Golden Equator Wealth (GEW), shared his views with The Straits Times.

When Shirley Crystal Chua took a leap of faith to go independent 10 years ago and set up Golden Equator Wealth in Singapore, she was entrusted with the wealth management needs of eight UNHW families. Today, her multi-family office (MFO) helps to manage the wealth of 40 families across Asia, and the business has evolved into a holding company.

Reflecting on the takeaways from over a decade of building and preserving wealth for Asia’s UHNW families, Founder and Group CEO of Golden Equator, Shirley Crystal Chua is building a business to survive for centuries to come.

We recognise the different needs between clients of different generations, but what’s more important is our ability to lead good communications to truly understand their needs, perspectives, and our initiatives that help bridge the differences.

In this video interview with Citywire Asia, Gary Tiernan elaborates on how the misalignment of interest between wealth advisors and their clients can jeopardise the long-term objectives of clients.

Hopes in Singapore for a near-term containment of the pandemic were dashed in mid-July with a spike in new cases, causing a retightening of controls on social gatherings for a month. Meanwhile its regional neighbors, such as Indonesia and Malaysia, are grappling with rising waves of infections. Amidst this gloom, some good news: Singapore’s economy expanded 14.7% year-on-year in the second quarter, its fastest annual pace in at least a decade, according to the Ministry of Trade and Industry.