Boutique and independent financial advisers are moving onto the turf of private banks in Asian wealth management centre Singapore, looking to poach emerging millionaire clients in the region.
As major players such as Citigroup (C.N) and UBS AG (UBSN.VX) focus their wealth management arms on the ultra rich, the most profitable segment, after a year of cutting resources due to the global financial crisis, the door has opened wider for boutiques.
