Singapore taps into the rise of family offices in Asia

The number of family offices in Asia has soared as the age of many family patriarchs or matriarchs get closer to retirement and Singapore is pushing to become a family office hub. A report by EY and DBS showed that a growing number of Asian family offices have a focus on intergenerational planning. While the EY and DBS report estimates there are 10,000 single family offices (SFOs) globally, with at least half being set up in the last 15 years, Asia estimates vary. An earlier report counted 500 SFOs in Asia. However, that figure has risen by as much as 15% in the last year.  "As the...