Wealth advisory clients shift focus from returns to post-retirement security

Advisers face pressure to deliver faster service and broader financial planning.

Wealth clients in Singapore seek financial advice on income sustainability and healthcare costs as they brace for up to three decades of post-retirement living, according to Million Dollar Round Table (MDRT).

“Clients are planning for 20 to 30 years of post-retirement living, driving greater demand for advice on income sustainability, healthcare planning, and protection against longevity and inflation risks,” MDRT CEO Stephen P. Stahr told Singapore Business Review.

Stahr noted Singaporeans’ rising affluence, largely driven by business growth and intergenerational wealth.

“These trends are shifting expectations on financial advisers, from mere product providers to long-term partners who can guide them through different life stages,” Stahr said in an emailed reply to questions.

Across Asia, wealth advisory clients are increasingly prioritising retirement security, healthcare costs and wealth transfer over investment selection as people across Asia expect to live longer.

“Instead of asking which product to buy, they want to know how much is enough for a longer life, how to handle health and longevity risks, how to balance growth with protection, and how to pass on wealth in a way that reflects their values,” Stahr said.

He said clients now expect broader financial planning covering protection, retirement, cash flow, estate planning, and business succession. They also want faster service and more consistent adviser access, particularly during emergencies.

“People are living longer, which means they need assets that can sustain their expected lifestyle during their retirement years,” Stahr said.

He said advisory firms across Asia are increasingly measuring the quality of advice and client service instead of focusing mainly on sales volumes. He added that stricter regulation across the region is changing advisory practices.

“As regulators across the region raise expectations around adviser conduct, disclosure, and suitability, leading firms are building stronger governance, training, and supervision to protect client trust and uphold accountability,” Stahr said.

Distribution channels have also expanded beyond traditional advisers to include banks, independent firms, and hybrid digital models.

Despite wider use of artificial intelligence (AI) and digital tools, Stahr said clients still prefer human advisers for financial decisions.

Million Dollar Round Table, a global association of financial advisers and insurance professionals, found that 63% of Singapore consumers prefer speaking with advisers for financial planning recommendations and decision-making, according to a survey conducted in April 2025.

The survey showed that 53% of Singapore consumers rely on advisers for financial information and financial decisions.

Stahr said advisers who succeed would be those who combine technical expertise with strong communication and relationship management skills.

“This means having strong financial planning fundamentals, comprehensive product and solution knowledge across protection, retirement, and wealth transfer, and the ability to provide advice that is in line with regulation,” he said.

Million Dollar Round Table also operates ChatMDRT, an AI assistant that provides members access to resources in more than 150 languages.