*"The future of wealth management lies in understanding how personal values and global opportunities intersect," said Martin Devereux, Managing Director of Trident Family Office, during the announcement of the firm's latest expansion into Singapore. "Our clients are not just looking to preserve wealth—they're looking to align it with the future they want to create."*
Trident Family Office, a London-headquartered firm known for its bespoke wealth management services, has officially established a new hub in Singapore, marking its first major foray into Asia. The move positions Trident to tap into one of the world’s fastest-growing regions for ultra-high-net-worth individuals (UHNWIs), a demographic that has swelled significantly over the past decade. Singapore, often referred to as Asia’s "wealth haven," has emerged as a magnet for global family offices, thanks to its stable regulatory environment, favorable tax policies, and geopolitical neutrality.
The decision to expand was not made lightly. Devereux, a veteran of the wealth management industry, cited extensive research and client demand as the key drivers behind the strategic move. “Nearly 40% of our client base has strong ties to Asia, whether through business interests, investments, or family. Establishing a presence in Singapore allows us to provide on-the-ground expertise tailored to this dynamic market,” he explained. Trident’s Singapore office will offer a full suite of services, including wealth structuring, intergenerational planning, tax optimization, and philanthropy advisory, all designed to cater to the complex needs of the region’s UHNWIs.
Singapore’s appeal as a hub for wealth management has grown exponentially in recent years. The city-state now hosts more than 1,100 family offices, up from just 400 in 2020, according to data from Singapore’s Economic Development Board. Much of this growth can be attributed to its progressive Variable Capital Company (VCC) framework, which simplifies fund structuring and enhances tax efficiency. Trident plans to leverage the VCC model to offer customized investment vehicles for its Asian clients while maintaining compliance with global regulatory standards.
However, the firm’s expansion goes beyond regulatory advantages. Trident’s ethos centers on holistic wealth management, emphasizing not only financial returns but also legacy-building and sustainability. This philosophy resonates strongly in Asia, where next-generation wealth holders are increasingly focused on impact investing and philanthropy. According to a recent UBS report, over 70% of Asian UHNWIs under 40 prioritize investments that align with their values—a trend Trident is keen to capitalize on.
*"The younger generation of wealth holders in Asia is redefining what it means to be wealthy," remarked Devereux. "They are more global in their outlook, more conscious of societal and environmental challenges, and more willing to take bold, innovative approaches to wealth management. Singapore provides the perfect ecosystem for us to support this evolution."*
The impact of Trident’s entry into the Singapore market is likely to be twofold. For one, it will intensify competition among established players, including UBS, Credit Suisse, and other boutique family offices already operating in the region. Secondly, it underscores the growing importance of personalized, value-driven wealth management in a world increasingly shaped by technological disruption, geopolitical uncertainty, and shifting societal norms.
As Trident sets up its operations, it is also actively recruiting local talent to bolster its expertise in Asian markets. The firm has already announced the appointment of Wei Lin Tan, a former executive at Julius Baer, as its Head of Asia-Pacific Operations. Tan, who brings over 15 years of experience in private banking and family office services, is expected to play a pivotal role in bridging Trident’s global capabilities with regional nuances.
In an era where wealth is becoming increasingly borderless, Trident Family Office’s move into Singapore is both timely and strategic. By combining its global expertise with a deep understanding of Asia’s unique cultural and economic landscape, the firm is well-positioned to set a new benchmark for family office services in the region.
(Editors: admin)