The firm said that it has boosted the number of its private client advisors more than sixfold to 380 since 2018.

Prudential Singapore is pushing harder to serve HNW clients, launching a new wealth and financial planning service.

The life insurer’s Prudential Wealth Suite is targeted at its private client advisors (PCAs) – there are more than 380 of such persons today.

The suite is in the firm’s main customer service centre at Prudential Tower in Raffles Place.

Prudential said its high net worth client base is expanding. In 2024, the number of HNW clients rose 16 per cent on a year earlier; sales rose by more than 40 per cent during that time, it said in a statement. The millionaire population in Asia is projected to more than double from 10 million in 2022 to 22 million in 2030.

“In tandem with the region’s growing pool of wealthy individuals who view Singapore as a global wealth hub, we anticipate that overseas customers will make up a significant portion of Prudential Wealth Suite users,” Goh Theng Kiat, chief customer officer, Prudential Singapore, said. “These customers often have complex and globally-connected portfolios and appreciate Singapore’s strategic location for accessing Asian markets and a climate of stability in the country, making it their preferred location for wealth diversification solutions.”

Advisors Danny Susanto, senior executive wealth director, Prudential Financial Advisors Singapore (left) and Peiyi Tang, master financial consultant, Prudential Singapore (middle).

Prudential said an in-house advisor works in the Wealth Suite together with PCAs to support customers with more complex financial needs. Eligible customers can request a consultation with an external panel of experts for tax and business advisory, legal and estate planning, fiduciary and trust services, family office advisory services as well as legacy giving.

In 2018, Prudential set up a team of 60 PCAs, and the number has grown more than sixfold.