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The Uptake | Crazy rich Asians

Written by The Uptake Published on   2 mins read

The rise of Asian wealth and what it means for the wealth tech space.

Hi, it’s Edmund.

The wealth business in Asia is one of the fastest growing in the world.

One major reason why the wealth management segment in the region is doing so well is because of an increase in the number of high-networth individuals in Asia. According to Knight Frank’s latest edition of The Wealth Report, the ultra-rich population in Asia-Pacific is expected to rise the fastest over the next five years.

Asia Pacific, which currently accounts for around 42% of global wealth, is also seeing a great deal of wealth transfer from entrepreneurs to the next generation.

And this wave of Asian wealth has implications on the business of managing wealth, including the types of wealth management services that will emerge. For instance, generational wealth transfer will popularize new asset types and investment strategies as younger investors tend to favor new and innovative investment strategies.

Moving forward, more wealth will also be moved online, and more financial advisory will be carried out online, predicts digital wealth platform, Endowus. This won’t come as a surprise, given how regions such as Southeast Asia already have a preference for e-wallets and mobile payments.

Read what Gregory Van, co-founder and CEO of Endowus, has to say about the latest trends in the wealth management segment in Asia here.

By the way, the International Symposium on Blockchain Advancements (ISBA) is running free tutorials as part of its blockchain event on December 1.

This event is fully sponsored by ParallelChain Lab and the tutorials will feature esteemed speakers such as Dr Radia Perlman (investor of the Spanning Tree Protocol), Charlie Kaufman (Dell EMC), Dr Christof Ferreira Torres (ETH Zurich), Dr Elaine Shi (Carnegie Mellon University), and Dr Antonio Ken Iannillo (University of Luxembourg). This will be a great opportunity to learn from the leading minds in blockchain, artificial intelligence and technological development. Click here to register.

ISBA 2022 Tutorials:

Date: December 1, 2022, Thursday

Time: 09:00 – 18:00 (UTC+8)

Venue: Theatre, University Cultural Centre (UCC), National University of Singapore


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