281 views

Around 4 in 5 wealthy Singaporeans attribute better decisions to financial advisers

The younger generation is more keen to consult financial advisers early.

About 80% of wealthy Singaporeans claimed that they make better decisions with the help of financial advisers, making them wealthier, according to a survey by St. James's Place Asia.

The study found that the wealthy are far more likely to engage with financial advisers at 78%, compared to those who are financially stable at 45%.

Those who are financially abundant are most likely to make better decisions due to financial advice and will advocate for earlier and greater engagement with financial advisers.

“At a time when standards of living are under pressure, financial advice empowers people from all walks of life to secure their futures. Those who have successfully moved up the wealth ladder tend to be the strongest advocates for timely and meaningful engagement with advisers while those who have yet to reap the benefits of prudent advice are likely more sceptical,” said Oliver Wickham, Asia Partner Director, SJP.

ALSO READ: SG is the 8th leading global city for the wealthy

“This presents both a challenge as well as an opportunity for the industry to demonstrate its value and need across generations and wealth levels,” he added.

The report also found that younger Singaporeans are interested in engaging with financial advisers early, with 55% of those aged 27 to 39 years old having already consulted a financial adviser, compared to 34% of the 50 to 69-year-olds.

The top three areas they seek greater financial advice and knowledge are investments (90%), retirement planning (85%), and property and mortgage (84%).

Follow the link for more news on

Join Singapore Business Review community
Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

Event News

Event News

SBR National Business Awards 2024 Winner: Wiseasy Technology Pte Ltd Cards & Payments
Lay Cheng Tan, Co-Founder & Chief Investment Officer, and Mayank Raheja, Managing Director (EMEA & SA) of Wiseasy Technology Pte Ltd, provided insights into preventing fraud and inefficiency with the WiseQ QR Payment Solution.
Cards & Payments SBR National Business Awards 2024 Winner: Wiseasy Technology Pte Ltd
Lay Cheng Tan, Co-Founder & Chief Investment Officer, and Mayank Raheja, Managing Director (EMEA & SA) of Wiseasy Technology Pte Ltd, provided insights into preventing fraud and inefficiency with the WiseQ QR Payment Solution.