Singapore Wealth Management - Market Sizing and Opportunities to 2027

Abstract

In Singapore, affluent individuals held 84% of the country's total liquid assets in 2022, with mass affluents alone accounting for 49.7% of liquid assets. 2022 proved to be a hard year as savings rates returned to normal levels but inflation eroded real incomes. Consequently, interest rates increased to control price rises, resulting in poor performance in financial markets. Going forward, liquid assets held by the affluent population will record growth in both 2023 and 2024. This is because financial markets are expected to recover as interest rates stabilize, high energy prices subside, and inflation returns to target levels in Singapore as well as key trading partners

Based on our proprietary datasets, this report analyzes Singapore's wealth and retail savings and investments markets, including overall affluent market size (both by number of individuals and the value of their liquid assets). The report also provides analysis of the factors driving liquid asset growth, including a breakdown and forecast of total retail savings and investments split by equities, mutual funds, deposits, and bonds.

Scope

• Savings account holdings among mass market investors dropped from 66% in 2021 to 53.2% in 2022.
• Robo-advisors are one of the most popular investment channels among retail investors in Singapore.
• Singaporean HNW individuals invest an average of 39.7% of their wealth offshore, which is just below the Asia-Pacific average.

Reasons to Buy

• Make strategic decisions using top-level historic and forecast data on Singapore's wealth industry.
• Identify the most promising client segments by analyzing the penetration of affluent individuals.
• Receive detailed insight into retail liquid asset holdings in Singapore.
• Understand changing market and competitive dynamics by learning about new digital disruptors and recent deals in the city-state's wealth space.