FSO conducts forum on the future of the APAC WAM sector

SGV’s Financial Services Organization (FSO) recently conducted a forum on the Wealth and Asset Management (WAM) sector on 18 June 2019 at the SGV Museum.

FSO Partner Francisco A. Lumbres moderated the forum while Partner and FSO Advisory Head Christian G. Lauron (CGL) formally welcomed the participants from the wealth and asset management industry. CGL explained the need to drive change, growth and prosperity across the WAM sector to penetrate and serve the unbanked and underbanked markets. He explained that the growth and contraction of the financial sectors reflect the financial life stages and cycles of individuals and corporates. He added that per capita incomes are projected to significantly improve in the next 3-5 years. CGL explained that there is a nuanced shift in the nation’s narrative from emerging growth to middle income prosperity, requiring a strategic foreseeing exercise and change management on the WAM sector’s investment and service models.

EY Asia-Pacific Wealth & Asset Management Advisory Leader Mark Wightman led a discussion on the future of the WAM sector and explained the factors driving the next phase of WAM. Mr. Wightman spoke on the key WAM trends and themes in the Asia-Pacific region. He also discussed best practices and strategies on how to capture and maintain clients. He said that the best way to prepare for sustainable growth in the WAM sector is by leveraging the right technologies and training people in the right way. His presentation was followed by an insightful open forum.

Local WAM Leader Ray Francis C. Balagtas delivered the closing remarks and emphasized the continuous need to enhance client engagement and elevate customer experience.

Also in attendance were Asia-Pacific FSO Risk Management Leader Vicky Lee-Salas and Assurance Partner Veronica Arce-Balisi.