October 2018

EDITORIAL: Move with the times

George_MittonI have often been told by veterans of the wealth management industry that clients will always value the human touch. Online alternatives such as robo-advisers or digital wealth platforms may appeal to some younger investors, these managers concede, but millennials (people aged between roughly 18 and 35) don’t have much money to invest and anyway, once clients reach a certain level of wealth, they demand a human adviser as a matter of course. This attitude is complacent. Yes, millennials today aren’t exactly flush with cash, but they stand to inherit from their parents. Secondly, the services they demand – convenient, on-demand, mobile-based – will become the norm simply as a matter of changing fashions. Don’t believe me? Think of how holidays used to be booked. It was logical for my grandfather to go, in person, to a travel agent to arrange his flights and hotel bookings. Now, everyone I know makes their bookings online using comparison websites such as Skyscanner or Trivago. A generation that is accustomed to ordering a taxi in minutes using Uber is not going to wait for days for an appointment with a wealth manager. Wealth managers simply must adapt to the digitally native generation. As in so many industries these days, China is showing us what the future might look like. George Mitton is editor of Funds Global Asia ©2018 funds global asia

Executive Interviews

INTERVIEW: Operational challenges

Jun 09, 2018

Caroline Higgins of Northern Trust tells George Mitton about A-share inclusion, ETF Connect and why Cayman funds predominate in the region.

INTERVIEW: Making a name

Apr 18, 2018

Formed by a merger in 2012, Old Mutual Global Investors was little-known in Asia. Carol Wong, managing director for Asia-Pacific, is changing that. She talks to George Mitton.

Roundtables

SINGAPORE ROUNDTABLE: Optimism versus caution

Oct 23, 2018

The impact of financial technology, developments in Asian passporting and the promise of new markets in Thailand were among the topics discussed by our panel. Chaired by George Mitton in Singapore.

HONG KONG ROUNDTABLE: a long-term project

Jun 09, 2018

Our panel discussed robo-advisers, ETF Connect, and why the mutual recognition of funds (MRF) scheme will take time to develop. Chaired by George Mitton in Hong Kong.