The ‘Family Office Discovery Series’ will be the first project, designed and organised with the help of the Singapore Economic Development Board (EDB) and the Monetary Authority of Singapore (MAS).
The efforts are the result of a twofold increase in demand for WMI’s family-office-related events and forums.
Objective of the series is to assist newly established family offices in their relocation to Singapore and assist them in integrating into the dynamic ecosystem of the city-state, fostering a sense of community and helpful involvement.
New and existing family offices in Singapore will receive it in a strategic manner.
Family offices will receive access to an extensive network and exposure to a variety of opportunities through the Series, including potential to explore co-investment options and develop a strong group of peers.
Foo Mee Har, CEO of WMI, said: “WMI is continuing its strong momentum in building capabilities and community in the family office sector. Over the past year, total participation in WMI’s family office programmes and forums have doubled to over 3,000 since launch. Additionally, more than 200 professionals have successfully earned their Certified Family Office Advisor credentials by completing a rigorous curriculum.”
Furthermore, the second project highlighted was the planned launch of a new Family Office Risk Management & Controls programme.
This initiative aims to help boost capabilities in the family office ecosystem in order to protect against financial crime and preserve compliance requirements and standards regarding onboarding and due diligence, cross-border jurisdiction, and tax, capital, and exchange control issues.
“For two decades, WMI has been equipping the wealth management profession with future-ready capabilities. The profession plays a critical role in upholding Singapore’s reputation as a transparent and trusted international financial centre. With the rapid growth of the family office sector, we will continue to create programmes that enhance its capabilities,” added Lim Chow Kiat, chairman of WMI and CEO of GIC.
Additionally, both launches expand upon WMI’s family office activities.
The Global-Asia Family Office Circle was founded by WMI in 2021 to enhance cooperation and knowledge-sharing in the industry.
With assistance from the Monetary Authority of Singapore (MAS) and in partnership with the Private Banking Industry Group (PBIG), WMI launched the Impact Philanthropy Partnership (IPP) in March 2023.
The IPP strives to increase family office awareness of and enthusiasm for philanthropy and impact capital.