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Research on Factors Influencing High-Net-Worth Individuals in Asian Countries to Choose Family Offices in Singapore

In: Proceedings of the 2022 2nd International Conference on Financial Management and Economic Transition (FMET 2022)

Author

Listed:
  • Xiaoyu Dong

    (University of Southampton, Southampton Business School)

Abstract

In recent years, the number of high-net-worth individuals has been increasing. Many high-net-worth individuals are concerned about wealth transfer, preservation, and appreciation, so they wish to take advantage of family office services to make their expectations come true. This article adopts secondary research as the major methodology, conducts analysis based on wealth transfer, preservation, and appreciation, and generates solutions on how Singapore is great to select to set up a family office. The result indicates that many high-net-worth individuals are sensitive while selecting successors. They expect their successors to have a good education background, have passionate about being the successor, and have the ability to preserve wealth and make wealth appreciated. In terms of wealth preservation and appreciation, high-net-worth individuals expect family office agencies to guide them in making investments, for example, offering them investment suggestions. No matter how to invest, the most important idea is to keep risk management in mind and constantly monitor the popularity of various investment fields, so that high-net-worth individuals can make better investment decisions.

Suggested Citation

  • Xiaoyu Dong, 2023. "Research on Factors Influencing High-Net-Worth Individuals in Asian Countries to Choose Family Offices in Singapore," Advances in Economics, Business and Management Research, in: Vilas Gaikar & Min Hou & Sikandar Ali Qalati (ed.), Proceedings of the 2022 2nd International Conference on Financial Management and Economic Transition (FMET 2022), pages 435-443, Springer.
    • Handle: RePEc:spr:advbcp:978-94-6463-054-1_47
    DOI: 10.2991/978-94-6463-054-1_47
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