Singapore launches new family office network for business families and professionals

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In partnership with the family office community and with the support of EDB and MAS, WMI’s new family office network will strengthen Singapore’s position as a global-Asian family office hub

SINGAPORE, 20 October 2021 / PRNewswire / – Today, the Wealth Management Institute (WMI) announced the launch of the Global-Asia Family Office Circle (GFO Circle). The Cercle GFO is a new network aimed at supporting the growth of family offices by Singapore, in partnership with the family office community and supported by the Singapore Economic Development Board (EDB) and the Monetary Authority of Singapore (MAS). The GFO Circle will be a platform for industry players to collaborate, share best practices and develop new capabilities. Collectively, this will support the development of a vibrant family office industry and strengthen that of Singapore global family office hub position in Asia.

The family office industry is growing rapidly. From 2019, the number of family offices in Singapore doubled to reach around 400 at the end of 2020. The Cercle GFO intends to build on this dynamic to strengthen the links between the various players in the family office community. These include family office managers, professionals and advisors. It will also galvanize the community towards meaningful causes such as philanthropy, sustainable finance, and support for Singaporean and regional entrepreneurship.

Beyond community building, the Cercle GFO will also focus on capacity development to support a stronger talent pool in the industry with deeper levels of expertise. WMI will provide education programs, research forums and thought leadership. These will build on WMI’s existing suite of programs, covering areas such as trusts, governance and family office leadership.

To help build investment capacity in the sector, WMI will launch new programs on Global Investment Strategies and Market Principles, in partnership with Dalio Philanthropies and with contributions from global investors including GIC and Temasek. To help guide a more targeted allocation of wealth, WMI will collaborate with the Gates Foundation on a new Masterclass in Philanthropy, and with Assistant Professor Bill burnett of the Stanford Design Program on a program on Purposeful Wealth Design. The Cercle GFO will also offer programs on sustainable investing and impact investing. An indicative list of programs is available on Annex.

Mrs Foo mee har, CEO of WMI, said, “The ultimate goal of GFO Circle is to be a trusted environment for the family office community to come together, share knowledge and access industry leaders, change makers, distinguished global thought leaders and experts. the growing family office segment creates excellent jobs and new career opportunities for Singaporeans in new family office setups as well as industries such as wealth management, asset management, tax, accounting , legal and fiduciary services. the finance and professional services sectors. In the past 12 months, there have been over 500 registrations for WMI’s family office and trust certification programs. We are preparing to double our scale to reach 3,000 registrations over the next three years in masterclasses, certification programs and learning trips abroad. “

Mrs Jillian lim, Executive Vice President, Family Office Development Team, EDB, said: “Family offices play an important role in that of Singapore economic growth, bringing patient capital, business expertise and networks that help drive entrepreneurship, innovation and philanthropy here. We are pleased to see a good initiative from family offices and industry players to develop links and expand access to opportunities in Singapore and in the region. The GFO Circle will grow stronger that of Singapore position as a hub for family offices by bringing together global and Asian family offices to exchange ideas, explore new investment and philanthropic opportunities Singapore. “

Ms. Thong Leng Yeng, Executive Director and Head of MAS Financial Center Development Department, said, “The GFO Circle is a unique public-private partnership, bringing together the family office industry. Singapore together and creating “safe spaces” for members to interact with their peers. I am pleased that the GFO Circle is supporting the development of family offices as a force for good in Singapore, contributing to increased efforts in entrepreneurship, sustainable investment and philanthropy. These are areas in which family offices have already been actively involved and which have attracted even greater interest in recent times. “

Sir Kwee Ker Fong, Principal, Kwee Family Office, said: “I am happy to see WMI and the GFO Circle promoting deeper interactions between different actors in the Family Office community. Speaking from a family office perspective, the GFO Circle responds to a real need for community and capacity building in the sector. I learned a lot from the Leading Asian Families program at WMI, which provided practical information and thoughtful relationship building with the other participants. I have no doubts that WMI and the GFO Circle are well positioned to lead this effort. I look forward to participating and contributing to upcoming programs. “

Annex: Selected list of upcoming programs within the framework of the Cercle GFO

Masterclasses

Global donations, Asian innovation – November 11, 2021 (Virtual)
This Masterclass will help participants better understand key trends in philanthropy. Global and local leaders in philanthropy will share how advisors can help clients achieve their philanthropic goals and objectives, and introduce participants to emerging models, approaches and tools. This Masterclass will be led by an assistant professor Dien Yuen, WMI Lead Faculty for Philanthropy, with guest speakers from the Gates Foundation, the Community Foundation of Singapore and UBS.

Intentional Wealth Design – Late November / Early december 2021
This Masterclass will help participants understand the role of design in creating a meaningful and fulfilling life, and its implication in designing a long-term wealth portfolio that reflects a client’s values ​​and causes. The Masterclass will be led by an assistant professor Bill burnett the Stanford Design Program and the brand new Design Life Institute of Singapore.

ESG applied for Family Offices – december 2021
This Masterclass will cover the growing role of ESG and sustainable investing in the future, and the impact of these trends on investing for family offices. It aims to clarify what could be considered a complex ESG landscape.

Certification programs

Certificate for Family Office Advisors – Foundation
This is the first of a two-part training certification program for Family Office counselors. From real case studies, participants will develop a comprehensive understanding of the types of family offices, their different functions, the legal and fiscal context in which they operate, as well as the means and tools that can help protect wealth on the long term. term. An important part of the program will help participants understand the human context of wealth owners: individuals, entrepreneurs and families. This is a prerequisite for the Certificate for Family Office Advisors-Advanced program.

Certificate for Family Office Advisors – Advanced
Taking participants beyond the fundamentals of Family Offices, this advanced-level program delves deeper by introducing participants to the interests and risk considerations of today’s Ultra High Net Worth (UHNW) families. The program explores the psychology and motivations of today’s rich. It reveals a range of opportunities available to clients who wish to reflect their values ​​for society and the environment in their wealth decisions. This includes the burgeoning field of impact investing. Participants will also learn about the different types of investments with a particular focus on specialized investments that make family offices a different category of investor.

About the Cercle GFO

The Global-Asia Family Office Circle (GFO Circle) is a network platform that aims to be the main spokesperson and umbrella association for family offices in Singapore and Asia. It responds to a real and growing need for community development, collaboration and learning in the family office sector. By bringing together a community of family office directors, professionals and service partners, the GFO Circle will be a trusted environment for networking and knowledge sharing.

The Cercle GFO will provide unparalleled access to cutting-edge information from a wide range of sectors. Members will have access to organized networking events, cutting-edge education programs, research and thought leadership, as well as opportunities for peer learning and cross-sector collaboration.

The GFO circle relies on the in-depth expertise in wealth and asset management training within the Wealth Management Institute (WMI), as well as on the partnership with the family office community through the heads of families. , family office professionals and family advisers in the banking, asset management, MFO, trust services, legal, tax, accounting and IFA sectors. The GFO Circle is also supported by the Singapore Economic Development Board (EDB) and the Monetary Authority of Singapore (MAS). For more information visit https://gfocircle.wmi.edu.sg

About WMI

Established in 2003, the Wealth Management Institute (WMI) is asia Center of excellence for training and research in wealth and asset management. Founded by Temasek and GIC, WMI is driven by the vision to catalyze that of Singapore growth ambition to become a leading international hub in wealth and asset management. We believe that advancing knowledge and capacities can have a lasting impact on value creation at individual, institutional and national levels.

WMI is named that of Singapore Leading training provider for private banking by the Institute of Banking and Finance Singapore (“IBF”) and supported by the Monetary Authority of Singapore (“MAS”). WMI offers a full range of practice-based programs, IBF accredited certification programs, from Graduate Diploma to Master of Science in Asset and Wealth Management in collaboration with Nanyang Technological University. In 2020, WMI recruited 17,000 finance professionals from 150 leading financial institutions in 60 programs. For more information visit https://wmi.edu.sg

SOURCE Wealth Management Institute (WMI)


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