Lombard Odier joins KBank Private Banking and five business partners in Asia. Revealed the latest survey results’Fostering, Transition, and Transforming: Accessing the High Wealth in Asia in the Age of New Normal‘ It examines the views and concerns of UHNWIs and business leaders in Asia amid challenging times. Ready to propose ways to drive wealth management services To better meet the needs of this group of people
The trend of growth in high-net-worth individuals (UHNWIs) in Asia will continue to be 10-15% on the back of the post-COVID-19 economic recovery. And the trade war situation eased The number of new billionaires in Asia will also increase significantly due to the trend of digital investment and the new economy.
Mr. Vincent Manianat Limited Partner and Chief Executive Officer, Asia, Lombard Odier Said “Economic changes And the impact of the complex COVID-19 crisis has forced many families and leading businessmen in the region to adjust their views on the surrounding environment. Many wealthy individuals want to rely on consultants with expertise in their respective countries.
Which can advise and help them reach international markets during times when their journey becomes more difficult. This includes banking services that value principles and beliefs that are consistent with what they value and feel connected to.
Not everything can be driven in a digital world. Especially for communication And building trust between customers and private banks by 59% Of the wealthy in Asia and most of Thailand stillMeetings at banks or other locations Rather than being contacted by email, mail, video call or phone call, when the COVID-19 situation is over, some of the wealthiest people in Thailand say: Getting together is still very important in any business. And I don’t think these activities can be substituted through online communication.
Investment: A. Look for other services More than an investment
From the results of the survey, it was found that 70% Of people with high wealth in Thailand Not modifying investment portfolios Especially the duration of the investment For asset management Although some of the wealthiest people in Asia choose to manage them in a relatively low-risk manner. (Conservative)
87% Of people with high wealth in Thailand said The availability of special services that are beyond investment services can greatly influence the decisions you make in choosing a bank. The top 3 services that wealthy people in Thailand give the highest priority are asset management competence. Access to investment opportunities in real assets such as real estate. And the ability to access the operator network
Family Services: Family governance is urgent.
COVID-19 crisis As a result, families of the wealthy in Asia have started to revisit their approach to family business and property management. And good governance in family property management. As a result, many families are considering starting a family governance plan. In Thailand, 35% of wealthy families have established family governance andThis crisis has resulted in another. 45% Of the family that is not yetPrepareFamily governance is interested in starting planning for the future.
Real Estate Advisory Service has also become one of the highest growing services available. And to meet the needs of land management of high wealth families in Thailand.For the year 2020, KBank Private Banking has studied and maintained real estate portfolios for 121 high-wealth clients. Covering a total of 940 plots of land
Sustainability: Sustainable investment is the path of the future.
The wealthy is beginning to realize the value of life after the COVID-19 crisis. The sustainability trend is one of the most important elements when deciding on a private bank. 69% Of the wealthiest people in Thailand ranks sustainability trends as 1 in 3 Most important point Thailand is the second country that gives great importance to this matter. After Japan
Although 89% of the wealthy in Asia say that The sustainability trend will continue to play a key role over the long term. Yet, only 61% of them plan their investments taking into account the dimensions of ESG and sustainability. This shows the importance of private banks in making recommendations. To show the wealthy people the potential and ways to create more profitable sustainable investments.
