*"Building a legacy goes beyond wealth accumulation. It’s about crafting a vision that endures for generations," said Richard Hayes, Managing Partner at Astoria Wealth Partners, as the firm announced its strategic expansion into Southeast Asia's burgeoning family office market.*
Astoria Wealth Partners, a London-based boutique advisory firm specializing in wealth management and family office services, is set to establish its first regional office in Singapore. This move marks a significant milestone in the firm’s journey, aligning with the increasing demand for bespoke solutions among ultra-high-net-worth individuals (UHNWIs) and multi-generational families in Asia. The decision comes amidst a global shift in wealth dynamics, with Asia now home to more billionaires than any other region.
Founded in 2008, Astoria Wealth Partners has built a reputation for delivering discreet, tailored services to an exclusive clientele, ranging from royalty and founders of global conglomerates to next-generation entrepreneurs. Its decision to enter Southeast Asia reflects the region's explosive growth in private wealth, driven by dynamic economic expansion and a rising class of affluent families seeking sophisticated structures for wealth preservation, cross-border tax optimization, and succession planning.
Singapore, widely regarded as Asia’s premier wealth management hub, offers the firm a strategic foothold. With its robust financial infrastructure, favorable regulatory environment, and progressive family office frameworks, the city-state has become a magnet for global capital and an ideal base for addressing the evolving needs of UHNWIs. According to the Monetary Authority of Singapore, the number of family offices in Singapore has surged from just 50 in 2018 to over 700 in 2023. Astoria Wealth Partners aims to leverage this growth by offering its expertise in complex offshore structures, philanthropic strategy, and intergenerational wealth education.
"Our clients are increasingly global in mindset, yet deeply personal in their aspirations. Southeast Asia presents an extraordinary opportunity to bridge those ambitions with world-class advisory solutions," Hayes remarked during the firm’s press briefing. The Singapore office will serve as both a regional hub and a gateway for clients looking to navigate cross-border investment landscapes, from Hong Kong to Indonesia, while integrating ESG principles and impact investing into their portfolios.
The expansion also signals a broader trend among Western wealth advisory firms seeking to capture the Asian market's unique nuances. Unlike traditional Western markets, where wealth is often inherited, Asia's UHNWIs tend to be first-generation wealth creators with distinct priorities. They are increasingly focused on legacy planning, particularly in the wake of economic disruptions and shifting geopolitical landscapes. For Astoria Wealth Partners, understanding these cultural and generational complexities is key to delivering value.
As the firm prepares its launch, it has announced plans to host exclusive forums and roundtables across the region, bringing together thought leaders, economists, and UHNWIs to discuss the future of wealth in the Asian century. This initiative underscores Astoria's commitment to fostering meaningful dialogue and innovation in the industry.
In closing, Hayes emphasized, "This is more than a business expansion; it’s a partnership with the region’s visionaries. We look forward to co-creating solutions that not only protect wealth but inspire progress."
With its entry into Southeast Asia, Astoria Wealth Partners is poised to redefine the standards of family office advisory in one of the world’s most dynamic wealth ecosystems.
(Editors: admin)