Swissquote’s Rafael Weber Discusses Growth and Innovation in Singapore’s Family Office Sector

Swissquote Singapore, a digital wealth management custodian, has seen significant growth in recent years as it positions itself as a traditional private banking alternative in the region. In an interview with Rafael Weber, the head of Swissquote’s Booking Centre in Singapore, he shared insights on the current state of Singapore’s multi-family and single-family office sector.

Family offices in Singapore are experiencing steady growth, fueled by the city-state’s premier financial hub status, stable regulatory environment, and increasing wealth accumulation among ultra-high-net-worth families. The demand for dedicated asset management teams for investment advice, estate planning, and philanthropic endeavors is on the rise.

To support the development of the family office sector, the Monetary Authority of Singapore (MAS) has implemented frameworks and incentives tailored to the needs of family offices. This includes the Variable Capital Company (VCC) framework and tax incentive schemes to attract more ultra-high-net-worth families to Singapore.

Swissquote Singapore’s business model focuses on providing a reliable and safe online platform with a broad product range and competitive pricing. They work on an execution-only model, avoiding conflicts of interest with institutional partners who offer investment advice.

Through technology, Swissquote Singapore assists asset managers in digitalizing their processes, offering tools for collective client management and online transactions for a wide range of capital market products. They also provide custody accounts for life insurance wrappers and actively managed certificates, enabling asset managers to efficiently manage their clients’ assets.

Overall, Swissquote Singapore’s innovative approach and commitment to providing cost-effective solutions have contributed to their growth in the region. With a focus on technology and client relationships, they continue to expand their business and support the evolving needs of multi-family and single-family offices in Singapore.