A new PwC report reveals that Chinese family businesses are setting up an increasing number of family offices in the region as they seek to raise investment returns.
Rising interest rates and access to alternatives such as digital assets are driving the trend, as China’s wealthy show the most interest in ESG.
Capgemini’s latest report is a wake-up call for wealth managers as the heads of rich individuals are turned by big tech firms for information and value-added services.
Wealthy investors in Asia are more willing to take risks than their peers in the West, although they may not realise it, a survey study by RBC Wealth Management shows.
A new generation of wealthy people sees the potential of adding modern technology into their family offices. But traditional skills and experience are also a vital commodity.
The violent market swings last year had contributed to the biggest loss of population and wealth in Asia Pacific compared to other geographies, a Capgemini survey showed.
Unlike in other regions, Asian HNWIs still appear much more willing to countenance big tech solutions to their wealth management problems, a Capgemini survey shows.
The country's government is encouraging local financial technology companies to create investing solutions. It could help fill the nation's dearth in experienced investment advisers.
Despite risks, HNWIs still interested in this asset class, mostly private-equity funds for onshore, and Reits for offshore, according to China Merchants Bank.
Wealthy individuals in the region are increasingly looking to financial technology services in order to bolster their investment processes and returns, said the annual report.
Wealth managers run just one-third of global high-net-worth individuals' money, and Asia Pacific now represents the biggest pool of capital, according to Capgemini's World Wealth Report 2016.
The latest Asia Pacific Wealth Report highlights which regional markets are growing fastest in terms of high-net-worth population and wealth, and where they are putting their money.