CM1 GROUP at the 8th Business and Philanthropy Forum (Singapore): Observing Global Family Succession and Sustainability

On 4–5 November 2024, CM1 GROUP — a firm focused on Singapore family-office services — was invited to attend the 8th Business and Philanthropy Forum at Shangri-La Hotel Singapore. Convened under the Alliance for Good (星岛善萌) banner, the forum brought together leading family-business representatives, philanthropists, technology innovators and investors. Two days of in-depth exchange gave us a richer understanding of the latest trends in global family wealth management.

We took part as observers, drawing insight from sessions spanning family-office governance, impact investing and the role of technology.

New trends in wealth management, viewed globally

The forum opened on the theme of “magnify wealth and purpose,” and a keynote by Benjamin Fok Chun-yue, Director of the Fok Ying Tung Foundation, prompted reflection among attendees. As a firm rooted in Singapore family-office services, we paid particular attention to the discussions on family-office governance and impact investing.

In the session on family-office asset allocation, contributions from speakers including Ken Goldman — President of Hillspire, the family office of former Google executive chairman Eric Schmidt — offered fresh perspectives for serving high-net-worth clients.

Technology empowering family succession

This year's forum featured a dedicated session on AI and the family office. Bryan Henning, Senior Vice President at Eton Solutions, spoke on “Adapting for the future: how AI can safeguard your family office,” illustrating the growing role of technology in modern family wealth management. These forward-looking views are a valuable reference as we continue to refine our service model.

A more diverse view of succession

The forum also explored women's leadership and impact investing in depth. Perspectives shared by speakers including Winnie Chiu, President of Dorsett Hospitality International, deepened our understanding of the many paths family succession can take:

• Succession is not only the transfer of wealth, but the continuation of values;
• Women play an increasingly important role in family-business succession;
• Cross-generational communication and a shared sense of identity are essential.

Singapore’s strengths through a global lens

Attending reaffirmed our confidence in Singapore as an international wealth-management hub:

• A well-developed legal framework gives family offices solid footing;
• Favourable tax policies attract high-net-worth individuals worldwide;
• A multicultural environment helps gather international talent;
• A continually maturing financial-innovation ecosystem.

We observed that the modern family office is concerned not only with preserving and growing wealth, but increasingly with sustainability and social responsibility. That trend aligns closely with Singapore's positioning as an international wealth-management hub, and offers clear direction for our own services.

Takeaways and reflections

As a firm focused on Singapore family-office services, CM1 GROUP came away from the forum with several takeaways:

• Family-office services must move with the times, weaving technological innovation into traditional service;
• Global asset-allocation strategies call for more professional, more localised execution on the ground;
• Sustainability is reshaping the way wealth is managed;
• Cross-generational communication and the transmission of values need more professional guidance.

Headquartered in Singapore, CM1 GROUP will continue to listen closely to clients' needs and help high-net-worth families establish and operate family offices in Singapore — coordinating with licensed professional firms on the related legal and tax arrangements — in support of lasting, multi-generational succession.

Event details

Dates

4–5 November 2024

Venue

Shangri-La Hotel, Singapore

Theme

Magnify Wealth and Purpose

Host

Alliance for Good · Business and Philanthropy Forum Organizing Committee

CM1’s role

Invited guest

Forum speakers (selected)

• Benjamin Fok Chun-yue

  Director, Fok Ying Tung Foundation · Chairman, Business and Philanthropy Forum Organizing Committee

• Ken Goldman

  President, Hillspire (Eric Schmidt’s family office)

• Bryan Henning

  Senior Vice President, Eton Solutions

• Winnie Chiu

  President, Dorsett Hospitality International

• Gloria Ai

  Forum emcee