Singapore's Farro Capital Says Clients Value Experience, Close Alignment

Tom Burroughes

22 June 2023

Serving the needs of ultra-high net worth individuals and families and the businesses they run requires years of experience, and such clients are most receptive to people who’ve got their hands dirty working in this space. Step forward Singapore-based and we bring independent risk management,” he said. Another issue is that while investment bankers have knowledge about specific financial topics – often superbly so – they aren’t necessarily experienced in handling the complex wealth needs of families, he said.

Farro charges fees as a percentage of client assets and is structured as a private company limited by shares. It has a team of 15 people.

As for Farro’s home turf, Singapore has become the best place in the world to hold this sort of family wealth, Kumar said, reflecting on his experience at Withers. However, a problem that families have wrestled with is their limited ability to “scale up” certain operations where necessary – hence the appeal of an MFO.

Asked later about the benefits of Singapore, the firm told this publication: “When one looks for an ideal location for setting up a family office, Singapore checks all the boxes: infrastructure to red carpet welcome from government agencies, and with growing geopolitical tensions, it will only benefit and cement its place as a leading global family office hub. We don’t see a shakeout in the foreseeable future as Asia will keep creating massive wealth for the decades to come due to its demographics, and Singapore is well poised to capture a big chunk of that.”