AMs play a critical role in serving high-net-worth (HNW) clients across Singapore and Hong Kong, acting as a key intermediary between private banks and end clients. The EAM sector in Singapore and Hong Kong has matured into a well-established and integral component of the wealth management ecosystem.
Despite robust scale, the sector remains highly fragmented, with the majority of firms operating below institutional size and facing rising regulatory expectations, intensified talent competition, as well as sustained margin pressure.
Developed in collaboration with AIWM Singapore and the Family Office Association Hong Kong, this report provides an evidence-based view of where the sector stands, how it is evolving, and what it will take to compete in the next phase of growth.
EAMs across Singapore and Hong Kong now manage an estimated USD 328 billion in assets, representing 7–9% of HNW wealth across both markets.
- Diversified business models are now the standard: ~80% of firms now blend advisory, discretionary, and fund-based activities
- Operating models under strain: regulatory expectations, higher fixed costs, and competition for talent are forcing EAMs to re-think how they build their operating model
- Consolidation lagging expectations: Over 70% of the firms in the industry continue to have Assets Under Management below USD 1bn
- Technology is now decisive: Platforms covering onboarding, compliance, portfolio management, and reporting are no longer optional
- 12% Estimated annual AUM growth through 2030: Outpacing broader wealth management as managed wealth shifts toward external managers. Growth will accrue disproportionately to firms with scale, operating discipline, and technology-enabled execution
This report is grounded in Synpulse's proprietary EAM databank, regulatory analysis, and direct engagement with EAMs, private banks, and industry leaders across Singapore and Hong Kong. To discuss the findings or explore what they mean for your firm, reach out to our team:
Singapore — James Dellborg, Associate Partner Hong Kong — Antonia Li, Senior Director.
Read the original article here.
