We were delighted to host the HUBBIS WEALTH SOLUTIONS FORUM in Hong Kong on Wednesday 18th October.

Thanks to our partners:1291 Group, Henley & Partners, Lombard International Assurance, Eton Solutions, J. Rotbart & Co., The Sovereign Group, Transamerica Life (Bermuda), Alpadis Group, Wealtra.

The event covered the following topics –

  • What does Hong Kong need to get right to appeal to Family Offices?
  • What are the HNW Life Insurance Options?
  • Millionaire Migration – Release of the Henley Wealth Migration Index 2023
  • Wealth & Succession Planning in an Increasingly Uncertain World
  • HNW Life Insurance and its use in the legacy and wealth structuring toolkit
  • Transforming a Family Office to Reimagine the Value it Delivers
  • Trends and developments - wealth structuring and planning
  • The Science and Art of Helping UHNW Families Transfer Businesses, Estates and Wealth to the Next and Younger Generations 


 

Oct 18

HUBBIS WEALTH SOLUTIONS FORUM - Hong Kong 2023

Island Ballroom, Level 5, Island Shangri-La, Hong Kong

Featured Partners
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A community of leading organisations within Asian Wealth Management

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Senior figures in Asian Wealth Management are speaking at this event

Yannick Haeni

1291 Group

Kshitij Kulkarni

1291 Group

Vincent Au

ALPS Advisory

Richard Grasby

Appleby

Mary Chiu

Blackhorn Wealth Management

Luciano Tattoni

CIGP

Kenny Ho

Carret Private Capital

Bryan Henning

Eton Solutions

Why you should attend Hubbis events

Connect

Connectivity across Private Banking, Independent Wealth Management, Retail Banking, Asset Management, Insurance, Technology, Professional Services and other communities.

Learn

Find out how the industry can develop further & lessons it can learn from elsewhere. Improve skills and knowledge through a practical, enjoyable and interactive learning experience.

Enjoy

Hubbis events are not only consistent, relevant, engaging and unique but also highly positive, and fun experiences.

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PHILIPPINES WEALTH MANAGEMENT FORUM 2024

Island Ballroom, Level 5, Island Shangri-La, Hong Kong

We were delighted to host our annual PHILIPPINES WEALTH MANAGEMENT FORUM on Wednesday 20t...

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Event Agenda
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  • 8.30am

    Registration

  • 8.55am

    Welcome Address

    Michael Stanhope

    Founder & Chief Executive Officer

    Hubbis

  • 9.00am

    Panel Discussion

    What does Hong Kong need to get right to appeal to Family Offices?

    • Why Establish a Single-Family Office and what are the Key Appeals of Hong Kong as a Family Office Jurisdiction?
    • What types of private clients can really benefit from establishing a single-family office (SFO) and why, and how much wealth do they need to make it worthwhile and viable today?
    • What are Hong Kong’s Key Selling Points as a jurisdiction to establish a Single-Family Office, and can it compete with Singapore and the UAE?
    • Is the government doing enough to support this? What does Hong Kong need to do to right to attract family offices? Aside from tax exemptions – does it need to give PR, structures, foundations, education, outreach programs? What’s the plan?
    • Do we have the right training environment? Are we doing enough to anticipate the needs of the wealthy families moving here? Do we have enough competent professionals to meet the demand adequately?
    • Are banks in Hong Kong providing effective custody and execution platforms for family offices – what are the weaknesses and where can improvements be made or found?
    • How much of a challenge is it to execute the aggregation and consolidation of financial data?
    • What solutions are available to Single and Mult-Family Offices to enhance their technology platform?
    • How can a Single-Family office address the CIO function effectively, dependent on size?
    • Are Hong Kong family offices sufficiently holistic in their approach – how can they optimise and deliver a completely holistic offering to the family?
    • How should these family offices be staffed efficiently, comprehensively yet cost-effectively?
    • How do the private clients identify the right wealth advisory firms and the right legal, accounting, personnel and fiduciary experts to work with?
    • If you are a Hong Kong Family – do you set up a SFO in Hong Kong or Singapore? Or both?
    • How does a single-family office or ultra-high net worth client choose the right multi-family office? Or when should they do it themselves?

    Chair

    Bryan Henning

    SVP, Head of International

    Eton Solutions

    Speakers

    Luciano Tattoni

    Managing Partner

    CIGP

    Jessica Cutrera

    President

    Leo Wealth

    Vincent Au

    Managing Director

    ALPS Advisory

    Chi Man Kwan

    Group Chief Executive Officer and Co-founder

    Raffles Family Office

    Tan Woon Hum

    Partner, Head of Trust, Asset & Wealth Management Practice

    Shook Lin & Bok

  • 9.45am

    Presentation - Use cases for PPLI in Asia

    Kshitij Kulkarni

    Partner

    1291 Group

    • Privacy, asset protection and tax optimisation with PPLI
    • Next generation planning for US beneficiaries
    • PPLI for Pre-Immigration planning to Australia
  • 10.00am

    Presentation - Millionaire Migration – Release of the Henley Wealth Migration Index 2023

    Denise Ng

    Director, Head of North Asia

    Henley & Partners

    • Where did millionaires move to in 2022 and where are they projected to go in 2023
    • Why have the millionaire migration ranking changed so much post covid
    • Domicile diversification – a new asset class for the wealthy
  • 10.15am

    Presentation - Wealth & Succession Planning in an Increasingly Uncertain World

    Lee Sleight

    Head of Business Development, Asia

    Lombard International Assurance

    • Mobility
    • Life Events
    • Legacy
  • 10.30am

    Panel Discussion

    HNW Life Insurance and its use in the legacy and wealth structuring toolkit

    • How do you choose? - Whole Life, Term Life, UL, VUL, IUL and PPLI.
    • More product choice is confusing – how can we present the right opportunities to clients today?
    • What trends and developments are we seeing in the market?
    • Key mistakes that clients make in choosing life insurance?
    • How does the new CFC rules in Taiwan effect the opportunity for HNW Life Insurance?
    • What preferences and demands are we seeing from mainland Chinese clients?
    • Does the average private banker or EAM RM/advisor understand enough about the life products and solutions, or what needs to happen to boost their knowledge, engagement and involvement?

    Chair

    Michael Stanhope

    Founder & Chief Executive Officer

    Hubbis

    Speakers

    Yannick Haeni

    Chief Executive Officer, 1291 Group Asia

    1291 Group

    Lee Sleight

    Head of Business Development, Asia

    Lombard International Assurance

    Jeremy Young

    Chief Commercial Officer

    Transamerica Life (Bermuda)

  • 10.45am

    Presentation - Transforming a Family Office to Reimagine the Value it Delivers

    Bryan Henning

    SVP, Head of International

    Eton Solutions

    • Setting up a family office to deliver scalable advantage for tomorrow
    • Using technology to create operational leverage and efficiencies
    • Digitalising governance functions within the Family Office and across family members and key advisors
  • 11.00am

    Refreshment & Networking

  • 11.30am

    Panel Discussion

    Trends and developments - wealth structuring and planning

    • Key trends taking place in estate and wealth structuring globally - how are those relevant to the Asian wealth management markets?
    • Hong Kong’s proposition as a regional Asia/North Asia and global wealth management hub. What is Hong Kong’s Government doing to further enhance its competitiveness?
    • How do Mainland China client’s wealth structuring needs differentiate from Hong Kong Resident clients?
    • What impacts are the new or forthcoming Beneficial Ownership rules and rules affecting the Place of Effective Management of BVI companies having on wealth structuring?
    • What do optimal estate and succession planning structures look like today for UHNW North Asia clients and what are the key elements to include in these solutions?
    • How are North Asia clients differentiating between Hong Kong Trust Law and Foreign Trust Law, and how are they addressing the use of Hong Kong or offshore based Trustees.
    • Are North Asia clients spending sufficient time on addressing Family Governance and the transfer of wealth and responsibility to the next generation?
    • How is Hong Kong competing with Singapore as a preferred jurisdiction for Family Offices and what is affecting families’ choice?
    • How are North Asia clients utilising HNW/UHNW life insurance in robust planning and structuring and what are the favoured solutions in the current prevailing global market conditions?
    • Is philanthropy important to North Asia clients and how are they addressing this?

    Chair

    Michael Stanhope

    Founder & Chief Executive Officer

    Hubbis

    Speakers

    On Wai Lau

    Head of Wealth Planning North Asia

    Pictet

    Richard Grasby

    Partner, Private Client & Trusts

    Appleby

    Paul Knox

    Managing Director

    J.P. Morgan Private Bank

    Kevin Lee

    Partner

    Stephenson Harwood

  • 12.15pm

    Panel Discussion

    The Science and Art of Helping UHNW Families Transfer Businesses, Estates and Wealth to the Next and Younger Generations

    • How well do you need to know your clients and their families and how can you build your trusted advisor relationship?
    • What are the key issues UHNW clients face when contemplating business, wealth and estate transition to the next and younger generations?
    • What issues do the next and younger generations face in inheriting control of businesses, wealth and property around the globe and how can the wealth management community help them overcome these hurdles?
    • What are the key ingredients of successful business and estate succession and legacy planning?
    • The importance of family governance, transparency and communication between the founder and the future generations so as to avoid misunderstandings and disputes.
    • What are the ‘new world’ issues that families and advisors need to address, such as rising levels of divorce and mitigating the potential for disputes, international diversity of locations and relationships and so forth, even issues around LGBTQ matters, and how do wealth advisors and specialist professionals approach these matters?
    • How can you address mental capacity issues, especially with aging populations and settlors who find it difficult to surrender control or who have left things too late?
    • How can you approach all these technicalities and the more sensitive emotional type issues with empathy and understanding, engaging the various generations and professional advisors in a way that will achieve the best outcomes?
    • How can you help clients deliver on their philanthropic ideas and objectives?

    Chair

    Michael Stanhope

    Founder & Chief Executive Officer

    Hubbis

    Speakers

    Mary Chiu

    Co-Founder

    Blackhorn Wealth Management

    Kenny Ho

    Managing Partner & Founder

    Carret Private Capital

    Patricia Woo

    Partner

    Squire Patton Boggs

    Yanyi Choy

    Director Wealth Management

    Hywin International

  • 1.00pm

    Lunch & Networking

  • 2.00pm

    Forum Ends

Oct 18

HUBBIS WEALTH SOLUTIONS FORUM - Hong Kong 2023

Island Ballroom, Level 5, Island Shangri-La,Hong Kong

Speakers

Yannick Haeni

1291 Group

Kshitij Kulkarni

1291 Group

Vincent Au

ALPS Advisory

Richard Grasby

Appleby

Mary Chiu

Blackhorn Wealth Management

Luciano Tattoni

CIGP

Kenny Ho

Carret Private Capital

Bryan Henning

Eton Solutions

Denise Ng

Henley & Partners

Yanyi Choy

Hywin International

Paul Knox

J.P. Morgan Private Bank

Jessica Cutrera

Leo Wealth

Lee Sleight

Lombard International Assurance

On Wai Lau

Pictet

Chi Man Kwan

Raffles Family Office

Tan Woon Hum

Shook Lin & Bok

Patricia Woo

Squire Patton Boggs

Kevin Lee

Stephenson Harwood

Jeremy Young

Transamerica Life (Bermuda)

Oct 18

HUBBIS WEALTH SOLUTIONS FORUM - Hong Kong 2023

Island Ballroom, Level 5, Island Shangri-La,Hong Kong

Partners

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Oct 18

HUBBIS WEALTH SOLUTIONS FORUM - Hong Kong 2023

Island Ballroom, Level 5, Island Shangri-La,Hong Kong

Event Highlights

Hubbis is delighted to have successfully hosted the Hubbis Wealth Solutions Forum in Hong Kong for 2023 recently.

The 2023 Forum in Hong Kong entailed discussions focused on the appeal of Hong Kong for Single-Family Offices (SFOs), comparing it with Singapore and the UAE, and examining the support from government and local institutions. Subsequent presentations touched on the benefits of Private Placement Life Insurance (PPLI) in Asia, trends in millionaire migration, and the emerging concept of domicile diversification as a new asset class. Wealth and succession planning were explored, with a focus on mobility, life event planning, and legacy planning. The forum also covered the transformation of Family Offices through technology for operational efficiency and governance digitalisation. Additional discussions explored wealth structuring trends, Hong Kong’s stance as a global wealth management hub, and the differing needs of Mainland China and Hong Kong clients. The transfer of wealth to younger generations in Ultra-High Net Worth (UHNW) families was also discussed, covering family governance, transparency, and new world issues like rising divorce rates. Networking sessions allowed for further interaction, and the forum concluded with a summary of key discussions and insights.

Our over 200 delegates were privy to invaluable resources and discussions that will indubitably shape their strategic orientations in the foreseeable future. For the benefit of those unable to attend, Hubbis has diligently curated these insights, capturing the very essence of this laudable forum, ensuring its teachings resonate well beyond the event's conclusion.

 

Many thanks to our Sponsors for the Forum1291 Group, Henley & Partners, Lombard International Assurance, Eton Solutions, J. Rotbart & Co., The Sovereign Group, Transamerica Life (Bermuda), Alpadis Group, and Wealtra.

You may wish to CLICK HERE to view the contact information of our sponsors’ key contacts.

You may also wish to CLICK HERE to view the Full Agenda for the Forum.

And a huge thanks to our Enlightening Speakers, whose details can be found HERE.



CLICK HERE to view the photos from the forum. And CLICK HERE to view the testimonials we received from this event. And CLICK HERE to view the Content Summary produced from this forum.

 

In turn, you may wish to Save the Date for the Hubbis Wealth Solutions Forum – Hong Kong 2024 – Wednesday 23rd October, 2024.

CLICK HERE to to view the homepage for the 2024 Forum, and secure your place today. Or alternatively, CLICK HERE to view our 2024 Event Calendar.

We eagerly await the 2024 Hong Kong Wealth Solutions Forum. But for now, enjoy the output of the 2023 forum below.

 

Panel Discussions from this Forum On Demand

What Does Hong Kong Need to Get Right to Appeal to Family Offices?

At the Hubbis Wealth Solutions Forum in Hong Kong, the opening panel discussed the advantages of establishing a Single-Family Office (SFO) in Hong Kong, comparing it to Singapore and the UAE. They emphasized the need for governmental support beyond tax exemptions, like residency options and educational outreach, to attract family offices. The panel also explored the effectiveness of Hong Kong's banking platforms for family offices, challenges in managing financial data, and the importance of a holistic approach in SFO operations. The discussion further delved into decision-making for families regarding the jurisdiction for setting up SFOs, highlighting the strategic considerations in the evolving wealth management sector.

Chaired by Bryan Henning, SVP, Head of International, Eton Solutions, the discussion featured Luciano Tattoni, Managing Partner, CIGP; Jessica Cutrera, President, Leo Wealth; Vincent Au, Managing Director, ALPS Advisory; Chi Man Kwan, Group Chief Executive Officer and Co-founder, Raffles Family Office; and Tan Woon Hum, Partner, Head of Trust, Asset & Wealth Management Practice, Shook Lin & Bok.

CLICK HERE to view the discussion On Demand.

 

HNW Life Insurance and Its Use in the Legacy and Wealth Structuring Toolkit

During the second panel discussion at the Hubbis Wealth Solutions Forum in Hong Kong, experts discussed HNW Life Insurance, exploring various products like Whole Life, Term Life, UL, VUL, IUL, and PPLI. They highlighted the challenge of product choice for clients, current market trends, common mistakes in selecting insurance, and the effects of Taiwan's new CFC rules on HNW Life Insurance opportunities. They also examined the knowledge gap among private bankers and EAM RM/advisors, suggesting ways to enhance their understanding and engagement to better assist clients.

Chaired by Michael Stanhope, Chief Executive Officer & Founder, Hubbis, the panel featured Yannick Haeni, Chief Executive Officer, 1291 Group Asia, 1291 Group; Lee Sleight, Head of Business Development, Asia, Lombard International Assurance; and Jeremy Young, Chief Commercial Officer, Transamerica Life (Bermuda).

CLICK HERE to view the discussion On Demand.

 

Trends and Developments - Wealth Structuring and Planning

In the penultimate panel at the Hubbis Wealth Solutions Forum in Hong Kong, experts discussed global trends in wealth structuring and their relevance to Asian markets, with a spotlight on Hong Kong's role as a regional and global wealth management hub. They evaluated how the government is bolstering Hong Kong's competitive edge in this arena. Divergent wealth structuring needs between Mainland China and Hong Kong residents were explored, alongside the implications of new Beneficial Ownership rules and regulations impacting BVI companies' Place of Effective Management on wealth structuring. The panel delved into optimal estate and succession planning structures for UHNW North Asia clients, contrasting Hong Kong Trust Law with Foreign Trust Law, and assessing the engagement with Hong Kong or offshore-based Trustees. They also touched on Family Governance, the transfer of wealth to subsequent generations, and the rivalry between Hong Kong and Singapore as favored jurisdictions for Family Offices. The utilization of HNW/UHNW life insurance for solid planning and structuring was discussed, pinpointing favored solutions amid current global market conditions. Lastly, the panel addressed the significance of philanthropy to North Asia clients and how they are approaching it.

Chaired by Michael Stanhope, CEO, Hubbis, the discussion featured On Wai Lau, Head of Wealth Planning North Asia, Pictet; Richard Grasby, Partner, Private Client & Trusts, Appleby; Paul Knox, Managing Director, J.P. Morgan Private Bank; and Kevin Lee, Partner, Stephenson Harwood.

CLICK HERE to view the discussion On Demand.
 

View the write-ups of the Panel Discussions from this event

The Value of Life Insurance Solutions as a Key Element of Smart Estate & Legacy Planning

A lively and very focused panel discussion at the Hubbis Wealth Solutions Forum in Hong Kong on October 18 saw a tag team of life insurance heavyweights deliver some serious punches on behalf of the vital role that life insurance can play in robust, well-devised succession and wealth planning, especially in an increasingly uncertain world. They highlighted how family dynamics and life events can evolve, and explained that wealthy individuals and families turn to well-established life solutions – especially today, PPLI - that are flexible and can support their need for mobility. They reminded delegates that advisors need to stress the importance of smart thinking and early planning to obtain the best suite of risk mitigation, liquidity management and portability, as well as key tax, compliance and reporting advantages ahead. And they explained how the wealth management community can work diligently and closely with the specialist life brokerages, and also with the lawyers, accountants and fiduciary services experts to create a refined and entirely suitable outcome.

CLICK HERE to read on.

 

Hong Kong Raises its Game to Appeal to More UHNW Families and Family Offices

What does Hong Kong need to improve to raise its appeals to principals considering establishing family offices or to make sure that those in situ stay there and expand? What types of private clients can really benefit from establishing a single-family office (SFO) or Multi-Family Office (MFO), and why? What more does Hong Kong need to do, aside from tax exemptions, such as a new Visa and PR offering, additional structures and asset management entities, education, and coordinated marketing? These and a host of other key issues were debated in the opening panel discussion of the Hubbis Wealth Solutions Forum in Hong Kong on October 18. Jessica Cutrera, President of Leo Wealth and also Vice Chair of the Hong Kong Family Office Association, was one of the expert speakers, and not only a strong proponent of the quality and sustainability of the family office ecosystem but also a keen promoter of the inter-connectivity between the MFO and SFO communities.

CLICK HERE to read on.

 

Exploring Wealth Solutions Amidst Shifting Horizons with Appleby Partner Richard Grasby

In the penultimate panel discussion at the early October Hubbis Wealth Solutions Forum in Hong Kong, experts discussed global trends in wealth structuring and their relevance to Asian markets, with a spotlight on Hong Kong's role as a regional and global wealth management hub. One of these professionals was Richard Grasby, Partner, Private Client & Trusts at leading offshore legal services provider Appleby. The panellists discussed a host of topics, including the government initiatives to enhance Hong Kong's wealth management competitive position. Thet reviewed the different wealth structuring needs and preferences between Mainland China and Hong Kong, and they considered the potential new Beneficial Ownership regulations in the British Overseas Territories. The looked at the trust laws of Hong Kong and other jurisdictions along with Family Governance, and optimised wealth transfer strategies. The also touched on the rivalry between Hong Kong and Singapore for Family Offices, the role of HNW/UHNW life insurance for planning, and the emerging emphasis on philanthropy among North Asia clients. Clearly Richard did not have the time to comment on all these matters, but we have managed to extract some of his insights on a number of these issues and key trends.

CLICK HERE to read on.

 

Leading MFO CEO Highlights the Huge Family Office Growth Potential in Hong Kong and Across Asia

Hong Kong is now fighting back in terms of credibility and visibility on the regional and indeed global stage after the social unrest followed by a pandemic. It has much to focus the spotlight on – from a deep and mature financial sector, liquid capital markets, and a broad, well-established ecosystem of professional and fiduciary services. There is no doubt that Hong Kong is now regaining favour and regaining momentum, and by estimation is set to become the biggest booking centre globally by 2027. As an expert member of a high-profile panel in the opening discussion of the Hubbis Wealth Solutions Forum in Hong Kong on October 18, Chi-man Kwan, Group Chief Executive Officer and Co-founder of Raffles Family Office, offered valuable insights and guidance on the evolution of the wealth management market and the family office proposition. Interestingly, he explained that the surge of their business is attributed to the growing volume of single-family offices (SFOs), highlighting how this dynamic is robustly and inexorably influencing the market.

CLICK HERE to read on.

Oct 18

HUBBIS WEALTH SOLUTIONS FORUM - Hong Kong 2023

Island Ballroom, Level 5, Island Shangri-La,Hong Kong