A recent report conducted by the Society of Trust and Estate Practitioners has revealed 19 predictions for the development of wealth planning in Asia.

Date: Nov 11, 2011

Tags: Wealth planning, Estate planning, Trusts

A recent report conducted by the Society of Trust and Estate Practitioners (STEP) has revealed 19 predictions for the development of wealth planning in Asia.

Titled ‘The Future of Asian Trust and Estate Practice', the report highlights findings under four categories within trust and estate practice in East Asia: regulation and macro-impacts; clients; business management; and products and services.  
Below are some of the key predictions agreed by over 70% of respondents, with the rest accessible via the link below:

• Asian clients will remain very sensitive to fees
• Clients’ awareness of the need for tax compliance is growing
• Asian clients will remain unique in seeking strong control over assets
• Regulatory initiatives to improve tax compliance in Asia will increase
• Hong Kong and Singapore to remain offshore-focused
• New wealth planning business in Asia will be private banker-driven

More details: http://www.step.org/pdf/STEP%20Asia%205%20Futures%20FINAL.pdf?link=contentMiddle