In 2025, the wealth management landscape will face a major shift headlined by flexibility, technology and self-directed clients, Martin Wong, Grandtag Financial Consultancy’s regional CEO, told finews.asia in an exclusive commentary.
As we approach 2025, the wealth management industry continues its journey of transformation, shaped by evolving client expectations and technological advancements.
Key trends include the increasing importance of legacy planning, the demand for more adaptable wealth solutions and the shift towards digitalization to meet the needs of the next generation of wealthy clients.
Legacy Planning: A Growing Priority
The «great wealth transfer,» projected to exceed $2.5 trillion by 2030, is driving greater focus on legacy planning beyond the next generation. Global events, such as the pandemic, have heightened awareness among high-net-worth individuals and ultra-high-net-worth families of the need to plan to successfully pass down wealth to the next generation and beyond.
As wealth becomes more global, and with clients managing businesses and families across multiple jurisdictions, handling cross-border financial and regulatory challenges has become a top priority. Wealth managers are now expected to create comprehensive plans that simplify these complexities, guiding clients through short-term market developments while maintaining long-term focus.
Rise of Self-Directed Clients
Ultra-high-net-worth individuals are increasingly seeking more control over their financial decisions, blending personal intuition with professional advice to craft their own personalized wealth and legacy strategies. This shift is amplified by the unpredictable nature of global markets and events.
Clients are increasingly favoring flexible, modular solutions that can adapt as circumstances change. Products like Variable Universal Life (VUL) insurance, which allow clients to control portfolio construction and asset allocations, are a prime example. Wealth managers must embrace this change by offering solutions that encourage collaboration and keep clients actively involved in the decision-making process.
Engaging the Next Generation of Wealthy Clients
As wealth passes to younger generations of HNWIs and UHNWIs, wealth management must embrace the digital tools these tech-savvy clients demand. This shift is essential not just for improving efficiency but also for fostering better connectivity.
Today’s Asian clients, for example, expect real-time portfolio visibility and insights through digital channels, especially those who are internationally mobile. These platforms provide clear, digestible updates on market trends, investment opportunities, and portfolio performance. Accredited investors are increasingly relying on these technologies to evaluate investments and track their progress. Adopting these tools is key to future-proofing wealth management in a digital age.
A New Era of Client-Centric Wealth
In 2025, wealth management will evolve into a more collaborative partnership, with wealth managers now expected to offer adaptable, transparent solutions that empower clients to take greater control of their financial futures.
Those who can provide personalized guidance while embracing technological advancements will be best positioned to succeed. Ultimately, digitalization will no longer be optional – it will be essential to ensure long-term success with the evolved client lifestyle and increasingly complex financial offerings.
Martin Wong is the Regional Chief Executive Officer (CEO) of Grandtag Financial Consultancy (GFC), a financial advisory firm specializing in wealth, health, and legacy planning for high net worth individuals and families across Asia-Pacific. Since early 2022, he has been leading GFC's business growth in Asia, focusing on ASEAN and North Asia. Before that, he worked for Charles Monat Associates and Jardine Lloyd Thompson. Beyond his professional endeavors, he is an accomplished athlete. In his 50s, he won numerous medals at Masters Athletics pursuits.
