The rise of family offices leads to a need for professional development of wealth managers

There are 700 single-family offices in Singapore in 2021.

Wealth managers need to hone their skills more than ever to cater to the growing number of ultra-rich.

According to the Singapore Management University, the number of single-family offices (SFOs) has increased to 700 by the end of 2021, boosting demand for professional asset management.

“Higher skill levels should meet the needs of this once specialized segment of investors,” the university added.

To help wealth managers better understand the challenges and opportunities of this unique client segment, SMU’s Business Families Institute (BFI) has launched a series of Institute of Banking and Finance (IBF)-accredited masterclasses.

The courses will provide in-depth knowledge and insight into how business families approach wealth management, governance and succession needs.

READ MORE: How single-family offices avoid disruption

“Drawing on case studies and real-life experiences, leading academics and industry experts will showcase the latest trends and developments in family investing to better engage and support business families as they build a lasting legacy,” the university said.

Eligible participants of the IBF Financial Education Program can attend classes for as little as $134.30.

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