This chapter explores the proliferation of fake or exaggerated family offices in Asia's wealth management sector, including a notable incident where an imposter almost represented a family office at a conference. The episode also covers the establishment criteria, costs, and attractiveness of family offices in Asia, particularly in Singapore, amidst concerns of distinguishing genuine players from imposters.
Reports of alleged imposters are cropping up more and more in the family office frenzy in Singapore and Hong Kong. The ultra wealthy use family offices to manage their finances and affairs.
Today on The Big Take Asia, host K. Oanh Ha speaks with Bloomberg investing reporter David Ramli about the secretive nature of the family office industry and why scammers are so hard to spot. Plus, she hears from Medway Investment board director Eric SayWei Neo about how people like him are becoming amateur detectives to try to weed out suspected imposters.
See omnystudio.com/listener for privacy information.