YHD - YHD Delayed Price. Currency in USD
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  • Reuters

    Asia's billionaires develop taste for boutique wealth managers

    HONG KONG/SINGAPORE (Reuters) - Growing demand by Asia's rich for independent advisory services and access to a wide variety of investment products is spurring the surge of boutique wealth managers more associated with the established wealth hubs of Switzerland and London. The boutiques, or so-called external asset managers (EAMs), mainly tap small-and-mid-level business owners and executives, who are typically out of reach for private banks, by leveraging their locally based advisers' contacts and family ties. As a result, more and more private banks are also leaning on boutique managers to boost their assets in a region which is seeing the fastest billionaire population growth in the world.

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