British wealth management firm St James’s Place (SJP) has unveiled Asia private client proposition in Hong Kong and Singapore to tap the evolving affluence in the region.

The move is aimed at offering affluent clients in the region greater accessibility to its private client services.

Clients will be able to make use of the company’s relationships with various expatriation consultants, tax managers, accountants, mortgages/estates as well as insurance specialists.

SJP plans to extend the offerings to clients with a minimum investable net worth $1m initially. The firm is expected to increase this requirement as client demand grows.

As part of the development, the Asian arm of the wealth manager will partner with Swiss banking group Swissquote, which specialises in private client digital solutions.

SJP Asia commercial director Matthew Deeprose said: “With Asia seeing the fastest growing number of millionaires per capita in the world and a strong demand for a transparent multi-generational advice-based approach, we see significant potential for our offering in the market.

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“Since we launched this service earlier in 2021, we have already been able to help a number of new and existing clients, as well as receive interest from private bankers and relationship managers to partner in our growth.”

In 2018, SJP signed an agreement to offer wealth management advice to Expatland Global Network’s clients in Singapore.

The firm revealed “record” results for the first quarter of 2021, registering total funds under management of £135.6bn ($189.17bn).

It represented a 5% increase from the previous year’s total of £101.67bn.

SJP revealed a 10.5% increase in funds under management to £129.3bn ($183.2bn) in 2020, with net inflows to such funds at £8.2bn.