Singapore’s wealth landscape is experiencing significant growth, with high net worth (HNW) clients now holding average assets of US$1.5m, marking a 6% increase from 2025, according to a recent report by Citi Wealth and RFI Global. The study, titled “Singapore at Heart, Global in Possibilities,” highlights the city-state’s expanding domestic and cross-border wealth pool.
Affluent clients in Singapore have also seen a rise in their assets under management (AUM), with a 5% increase to over US$565,000 per financial institution. The report underscores Singapore’s position as a leading global wealth hub, with mutual fund ownership among HNW investors reaching 31%, the highest in Asia.
Despite this growth, the report notes that over 70% of both onshore and offshore wealth remains in deposits, suggesting potential for greater portfolio diversification. Additionally, Singapore demonstrates strong estate planning, with 76% of individuals aged 55 and above having established wills or wealth succession plans.
Yeo Wenxian, Asia South Head of Wealth at Citi and CEO of Citibank Singapore, commented on the findings, emphasising the importance of connecting Singapore’s expanding wealth pool to global investment opportunities. The report also explores the role of artificial intelligence in complementing human financial advice and the preparation for intergenerational wealth transfer.
As Singapore continues to deepen its wealth base, the focus will be on leveraging its strengths to foster more informed and enduring investment relationships globally.
