Swiss Bank Baosheng: Hong Kong and Singapore have become the regional hubs for family offices in Asia.

Swiss Pictet and Swiss PwC have collaborated to release the "Swiss Pictet Family Weather Report 2025," which states that Hong Kong and Singapore have become regional hubs for family offices in Asia, with a significant increase in Single Family Offices (SFOs). By 2024, Singapore has established over 2,000 family offices, while Hong Kong has over 2,700. With the maturation of cross-generational wealth and global dispersion of family members, the Singapore and Hong Kong markets have become the most dynamic regional hubs in Asia, simplifying complex affairs for wealthy families and establishing lasting legacies. The report mentions that both Singapore and Hong Kong have robust financial infrastructures and clear regulatory frameworks. Hong Kong, in particular, has a mature financial ecosystem that attracts ultra-high-net-worth individuals from across Asia due to its proximity to mainland China and international schools. Singapore, on the other hand, offers advantages such as political stability, legal certainty, and economic attractiveness, especially for clients from Asia and the Indian subcontinent. The three main focus areas for affluent families in Asia include: 1) inheritance planning, 2) personal and family development opportunities, and 3) establishing family legacies, reflecting a shift in wealth planning from simple inheritance arrangements to long-term value-based strategies. The report indicates that the structures of family offices in Asia continue to professionalize, with families outsourcing functions such as asset management (73%) and investment management (63%), while retaining core control over wealth and inheritance planning as well as charitable advisers. Investment topics focus on diversifying geopolitical risks, combating inflation, and real estate investments, while social issues concentrate on tax, intergenerational wealth transfer, and political stability.