Wei said the initial plan would be to focus on developing services in the offshore wealth management centres of Asia and the Middle East, which were all experiencing rising wealth inflows.
“The first thing to do is to focus on the branches we are in, and there is ample opportunity to be successful there. It is about deepening our existing markets of Singapore, Hong Kong and Dubai.”
In Japan, where FPI was in the process of seeking a new licence, Wei said he was hoping for a positive outcome. “We are very keen to have it because, again, we see great opportunity, in particular from Japanese investors that are looking to access investment opportunities in different currencies.
Overall, he expected IFAs to begin to see a gradual improvement in products and services. “The relationship managers remain intact, and that to me is key. These guys are trusted, they have been known to be responsive and they work hard to satisfy the needs of our IFA partners.”
“What we bring, though, is capability that FPI as a standalone operation did not have in the past.
“It will take a bit of time to get it out there but, hopefully, before too long the advisers will feel the difference, and they’ll go, ‘Yeah, this makes a lot of sense, I like this enlarged group’.”
