This news service has published a mass of content about external asset managers in the past three weeks. Here is a summary of the articles.

During recent weeks, WealthBriefingAsia has published interviews and articles about the external asset managers (EAMs) market in Asia. The term “EAM” can be synonymous with “independent wealth manager”; sometimes the term covers multi-family offices. (There are fuzzy boundaries with such terminology, and that is particularly the case when the word “independent” comes up.)

According to a paper from Singapore Management University in May 2022, the sector can be defined as follows: “The EAM business relies on a unique business model that is different from the traditional private wealth management model. Typically, when a high net worth client opens an investment account with a bank, the bank’s in-house investment professionals would manage the account.

“However, with the EAM model, an external party manages the investments, while the bank services the account. The EAM offers investment advisory, discretionary portfolio management, tax, and succession planning services, as well as advice to the custodian bank where the client opens the account. The client then appoints the EAM to manage the assets with the custodian bank based on a Limited Power of Attorney (LPOA) over the account. The model thus creates a tripartite relationship among the client, the custodian bank, and the EAM.”

There is also a significant market in single-family offices in jurisdictions such as Singapore and Hong Kong. 

We’ve got to grips with what firms say they are doing, what services they see as being in demand, what the challenges are, and what the future might bring. The publisher of this news service is also showcasing the EAM sector in its Fourth Annual WealthBriefingAsia EAM Awards 2025, with a public announcement ceremony in Singapore on 16 October. Nominations are open.

Articles:

The Asian EAM Opportunity: What Bank Custodians Say

Deutsche's Private Bank Recipe For Serving EAMs Successfully

Providing Asia’s EAMs With Heavy-Hitting Support – BNY Pershing

How EAMs Are A "Core" Activity For VP Bank – A View From Singapore

Challenging Established Models - Interactive Brokers' EAM Approach

Standing Apart From Traditional Banks: Swissquote's EAM Service Model

Independence Remains Big EAM Force; Sector Faces Compliance Challenges – HP Wealth Management

The Forces Shaping Singapore's, Asia's EAM Sector

A Competitor But Also A Partner – Where Saxo Fits Into Asia's EAM, Wealth Space

EAMs And Family Offices In Singapore Retain Growth Momentum

This news service continues to engage with the industry; if you have views, criticisms and feedback, or stories about what is happening in this sector, please tell us. Email tom.burroughes@wealthbriefing.com