The discussion of wealth management will ring hollow if it simply focuses on growing your finances. AIA Singapore offers a holistic perspective on how to achieve the real wins in your life.
Your well-being should be your number one priority, right? However, it can be said that for many of us, our well-being is constantly being associated with our monetary worth. Indeed, last year’s Agility Research & Strategy’s WealthLens Singapore study of High Net Worth Individuals (HNWIs) in Singapore showed financial well-being was actually the most important to them. Their top three priorities were financial well-being (64 per cent), mental well-being (62 per cent) and physical well-being (61 per cent).
While the three are interconnected, it highlights the priority we place on our personal wealth. Sure, being in a strong financial position helps most of us sleep better at night. But while our finances are of utmost importance, being rich would not be the same if we were not physically and mentally in good form. What works best is a holistic approach that takes into account all three elements to live healthier, longer, better lives.
At AIA, we recognise the urgent needs of underserved HNWIs amid the explosion in Asian wealth. As their numbers grow, so too does the demand for a trusted partner that can help them plan for the different life stages, both individually and for the family. Having served generations of families in Singapore for over 90 years, naturally we understand them.
Tailored for perpetually busy and driven HNWIs, Wealthbeing by AIA is a pairing of wealth and well-being solutions that aims to meet the underserved needs of those seeking protection and growth for both their wealth and health.
In a way, your financial well-being is the easiest to measure and track. You might have a combination of a bank account, investments, property and other assets that you have built up over the years. In addition to growing them, protecting them and planning for the next generation inevitably start to become major considerations. That’s what the specially curated Platinum product series by AIA was designed for – to not just safeguard your wealth, but plug the gaps in your medical coverage.
Build your legacy
As protecting and safeguarding your wealth becomes paramount, it’s also worth considering how you intend to pass on some of that to your loved ones – beyond your success and other personal achievements, this is your ultimate legacy. It doesn’t just happen automatically. It takes time and effort to build a long-term plan that suits you and your family’s needs.
Legacy planning might sound like an intimidating concept or time-consuming endeavour, but it is a vital step you need to take to ensure a smooth handover of wealth from one generation to the next. Some may already have a legacy plan in place, others may need to update theirs, while there are many that will be creating one for the first time. As consumers gain maturity in wealth planning and market solutions grow increasingly sophisticated, it is now a great opportunity to take stock of your assets and consider what you want to do it with it in the future.
Whatever stage you are at, it can be hard to do it alone – which is why solutions and advice are crucial to navigating this potentially tricky landscape. One solution is AIA Platinum Wealth Legacy, designed to offer an ideal blend between wealth accumulation and guaranteed long-term security for your family, regardless of investment fund performance.
Raising the bar
It helps that AIA has a wide range of comprehensive legacy planning solutions for HNWIs to choose from that cater to their wealth accumulation and health protection needs. Crafting a personalised portfolio tailored to your individual requirements is the best way to make this happen. After all, only you can decide what your legacy stands for.
What sets AIA Singapore apart is that its insurance representatives are elevating their financial advisory competencies to better serve the rapidly growing affluent population here. Since 2019, AIA has partnered with the Wealth Management Institute (WMI) to become the first insurance organisation in Singapore to provide its representatives with the same level of training and assessment as private bankers, through certification from the Institute of Banking and Finance (IBF) certification.
Currently, AIA remains the only insurer in Singapore to upskill its insurance representatives to meet these high industry standards. Alongside this, the company has strong wealth management capabilities that are supported by highly experienced institutional fund managers including Baillie Gifford, BlackRock, Capital Group and Wellington Management. These are trusted stewards with established track records of delivering consistent long-term returns. AIA Investments, the group’s investment arm, is responsible for managing close to US$340 billion of assets as of Dec 31, 2021, and has one of the largest teams of investment professionals in Asia Pacific across the industry with more than 250 such experts.
Leverage on our three specially crafted AIA Elite Funds – AIA Elite Conservative, AIA Elite Balanced and AIA Elite Adventurous – each with a portfolio tailored to suit your goals and risk preferences. Helmed by the professional oversight of AIA Investments, our portfolios comprise a strategic mix of global equities and bonds, targeted at achieving sustainable, optimal returns and financial stability over the long term.
We also have an invitation-only AIA Altitude programme, which caters to clients who own and maintain AIA policies with total annualised premiums of at least S$10,000. The bespoke programme has three membership tiers: AIA Altitude, AIA Altitude Platinum, and the newly introduced AIA Altitude Pinnacle for Ultra HNWIs. AIA Altitude Pinnacle clients, who qualify with a total annualised premiums of at least S$100,000 receive access to a suite of holistic privileges including advanced healthcare services, complimentary will writing and Lasting Power of Attorney services, tele-consultation and exclusive event invitations.
Building your wealth is a major accomplishment; now, let your wealth work for you. We endeavour to elevate your wealth and optimise your well-being. Let us help you put in place a long-term financial plan to grow, protect and pass on your legacy – setting you on the path to a long, fulfilling and worry-free life.
(Main and featured image: John Guccione)
This story first appeared in the June 2022 issue of Prestige Singapore.