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There is plenty happening in the Malaysian wealth management market, as incumbents and new entrants jostle for position, from new leaders coming to take the reins at some of the bigger name local and global banks and firms, to the arrival of new strategic partnerships, new strategic visions being launched to propel Islamic wealth management, so on and so forth. The Malaysian financial markets are more mature than most of the fellow ASEAN countries aside of course from Singapore, and as HNW and UHNW wealth is relatively older, more of those clients have, for years, and often decades, spread their investments across the border to Singapore, or further afield to Hong Kong or even to London and Switzerland.
A core challenge for Malaysia has therefore been to boost its onshore proposition and diversify the products and advisory offering in order to draw more of the AUM back onshore, but also to make sure that as much of the newer wealth remains under management in Malaysia, and that the growing ranks of younger wealthy inheriting so much of the founder/first-generation, even second-generation wealth are also properly serviced onshore. And of course, the region-wide drive to digitisation to cater to the newer demographics and the remote working environment is vitally important to the wealth market’s development.
Malaysia also has a significant percentage of Muslims in its population, and the drive towards Islamic wealth management is an increasingly important element of the overall model on offer in Malaysia; hence we are seeing some interesting developments there, for example giant Maybank’s comprehensive Islamic Wealth Management plan for the future, released in late July this year.
The Hubbis Digital Dialogue discussion of November 2 will analyse how Malaysia’s wealth market is evolving to cater to the evolving client base of today and the decades ahead, and how it can compete more effectively with the offshore models that many of the older wealthy in the country have traditionally sought out since the 1990s, when the country’s private wealth really started to flourish and boom.
There is certainly plenty of room for Malaysia’s market to grow robustly alongside those more well-established offshore financial centres, as long as participants in Malaysia can manage the tighter regulatory demands, boost the array of investment products and solutions, and if they continue to develop the Islamic finance wealth market. At the same time, the incumbent players will need to compete energetically and smartly against new entrants that have been becoming more prominent locally as the regulators continue to gradually liberalise the financial markets.
Drive to Boost Malaysia’s Wealth Management Market
3.00pm - 4.00pm HKT/SGT
A community of leading organisations within Asian Wealth Management
Senior figures in Asian Wealth Management are speaking at this event
Carolyn Leng
Chan Ai Mei
Affin Hwang Asset Management
Jovin Shen
CREALOGIX
Lakshey Gangwani
InvestCloud
Wai Ken Wong
StashAway
Why you should attend Hubbis events
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MALAYSIA WEALTH MANAGEMENT FORUM 2024
3.00pm - 4.00pm HKT/SGT
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3.00pm
Malaysia’s Wealth Management Market and the Drive to Boost the Onshore Offering and Proposition
- How are asset managers and wealth managers evolving to engage the post-pandemic era?
- How has Covid-19 changed client communication and sales? Is this change permanent?
- The costs saved (entertainment and travel) has been spent on what?
- What does client experience mean to you?
- Has demand for investment products stayed strong? And for what type of themes or strategies?
- Are banks still the dominant wealth management players? Or are any new entrants making inroads?
- How are firms accelerating their digital transformation?
- Can digital channels be successful by themselves – or is this all about partnerships?
Moderator
Speakers
Carolyn LengPrivate Client Adviser
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4.00pm
Webinar Ends
Drive to Boost Malaysia’s Wealth Management Market
3.00pm - 4.00pm HKT/SGT
Carolyn Leng
Chan Ai Mei
Affin Hwang Asset Management
Jovin Shen
CREALOGIX
Lakshey Gangwani
InvestCloud
Wai Ken Wong
StashAway
Drive to Boost Malaysia’s Wealth Management Market
3.00pm - 4.00pm HKT/SGT