Marcus Hinkley, Head of Private Client Asia, recently sat down with Hubbis editors to discuss the growing complexities facing the region's wealthy and the opportunity to outperform the competition.
Singapore, Hawksford’s hub for Asia
Hinkley will be based out of Singapore, the chosen Asian centre for Hawksford’s expansion in the region. “It is a strategic hub for the rapidly growing wealth management and corporate markets and also has the ambition to be a ‘smart' technology-enabled financial centre, which aligns with the Hawksford vision,” says Hinkley.
A well-plotted strategy
Hawksford has, since 2016 under van Leeuwen’s guidance, been refining its strategic direction, evolving the multi-disciplinary services offering for clients and increasing its penetration of core markets. The arrival of Hinkley is clearly part of the group’s expansion organically, further strengthening the team of professionals, as the firm builds out both in quality and quantity in Asia.
Complexity = sophisticated solutions needed
Hinkley believes his background as a lawyer will add further robustness to the Hawksford private client offering. “My perspective is to see the client’s needs and consider all the issues they face. Lawyers are comfortable with complexity and I for one thoroughly enjoy the challenge of structuring bespoke solutions. I am able to analyse a client issue from a legal perspective, albeit not giving legal advice anymore. I think this is a competitive edge.”
Hinkley explains that Hawksford will be working to build its HNWI relationships through connections to lawyers, accountants, private bankers, IFAs, external asset managers and other non-competing advisers and intermediaries in the region.
Hinkley concluded the discussion by giving his broader perspective on the wealth management industry. “The business is in a transition, moving from relative simplicity in what was a fairly opaque world to a transparent world, which is creating significant complexity and therefore challenges,” he explains. “This transition plays into my and our strengths. Another factor is that we are moving increasingly to a situation where trustees need to be very careful about local regulations, laws, tax laws and so forth, and therefore we think there will be trustees who fall by the wayside, so as to speak, because they do not have the deep understanding of and ability to handle these regulatory and compliance issues. I think that is an area where we will probably come to the fore.”
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