WMI CEO Day 2 Partners Forum Speech
Global-Asia Family Office Summit 2026 – 6 Oct 2026

 

 

Good morning, distinguished speakers and guests, ladies and gentlemen.

 

A very warm welcome to everyone joining us today. A special thank you to those who have been part of our community over the years, and a pleasure to welcome those joining us for the first time.

 

Yesterday, we welcomed family principals and single-family office professionals from around the world. Today, we broaden that conversation to the wider family office community, focusing on the expertise and partnerships needed to support family offices in an increasingly complex environment.

 

This year marks the fifth edition of our Summit. For more than five years, WMI has nurtured a family office community alongside Singapore’s growing ecosystem. Many of you here have partnered with us on this journey, and I thank you for helping build the vibrant and connected community we have today.

 

The growth of Singapore’s ecosystem reflects the confidence families continue to place in Singapore. As Deputy Prime Minister Gan Kim Yong shared at the Summit yesterday, private banking client assets grew by around 50% over the past five years, including a 15% increase between 2024 and 2025.

 

For all of us who serve these families, this brings greater opportunity—and greater responsibility.

 

This morning, I will focus on two shifts shaping the future of family advice—and what it takes to thrive.

 

Growing Complexity of Family Wealth and Needs

The first is the growing complexity of family wealth and needs. As wealth extends across generations and borders, families need advisers who can see the whole picture. The advisory relationship must move beyond individual products or areas of expertise to understanding the family’s holistic needs and shaping advice around them.

 

This calls for a broader understanding of the issues that matter to families—from family governance and cross-border tax to philanthropy and next-generation preparedness. By connecting these needs, advisers can deepen their role as trusted advisers to the family.

 

Deepening Advisers’ Role as Trusted Advisers to Families

Our latest research illustrates why this matters.

 

These findings come from our latest report: Stewardship by Design: Preparing Asia’s Next Generation for Leadership and Impact. Conducted jointly with academics from Harvard Business School and the University of Chicago Booth School of Business, our study draws on responses from about 150 family offices, primarily in Asia. It compares their responses with those of family offices worldwide, with the majority from the Americas.

 

One finding is particularly relevant to everyone in this room. When families make strategic decisions about their wealth and legacy, how often do they turn to advisers?

 

In our Asian sample, only 32 per cent of family offices identified advisers as a source of guidance—about a fifth lower than in the international sample.

 

This points to a significant opportunity for advisers to earn a greater role in families’ decision-making. Doing so requires them to understand how a family’s investments, governance, succession and purpose connect. It is a capability we must build.

 

WMI has been working closely with the industry to strengthen these capabilities across the family office ecosystem. Over the past five years, our family office programmes have attracted about 6,400 enrolments, covering investments, family office management, governance, wealth stewardship and intergenerational planning.

 

Growing Importance of Philanthropy

We are seeing strong interest from advisers in building their knowledge of philanthropy. Philanthropy gives families a practical way to put their values into action. It can bring generations together around a shared purpose and give younger members experience in making decisions and taking responsibility.

 

That is why WMI and the Private Banking Industry Group are expanding our partnership. Over the next three years, we expect to see 1,200 enrolments from private bankers seeking the knowledge and confidence to guide families on philanthropy, legacy and purpose.

 

Supporting Next-Gen Development

Another area where advisers can contribute is preparing the next generation. Succession is about passing on wealth and legacy—and ensuring those who inherit it are ready for the responsibility.

 

Our research found that readiness grows through participation. Younger family members build judgement by taking part in important decisions and learning from those who have carried the responsibility before them.

 

Our study found that when next-generation members have the opportunity to contribute alongside senior family members, families are almost seven times more likely to see them as ready.

 

Not three times. Not five times. Almost seven times.

 

For advisers, this creates a clear opening to deepen the engagement: how are younger family members being involved today, and what experience will they need before taking on greater responsibility?

 

By helping families address these questions and connecting them with relevant learning opportunities, advisers can also begin building relationships with the next generation and earn their trust early.

 

Preparing the next generation will be a growing focus for WMI, centred on two key areas. The first is helping younger family members explore their values and aspirations, understand their responsibilities as owners and family stewards, and identify practical ways to contribute to their families.

 

The second is broadening their understanding of emerging technologies, investment opportunities and new business models, so they can contribute to their family’s future. Look out for our new programmes in these areas.

 

AI Is Already Changing How We Invest and Advise

Let me turn to the second shift shaping our profession: AI.

 

AI is already changing how we invest and advise. Its potential goes well beyond automating routine tasks. Investment professionals can use it to synthesise vast amounts of research, explore portfolio vulnerabilities and strengthen risk analysis. For advisers, it can help identify client needs and support more personalised advice.

 

But realising AI’s potential requires investment in people. As roles evolve, professionals need to learn how to apply AI in their work, assess its outputs and exercise sound judgement.

 

As AI takes on more analysis and routine work, the premium on human connection rises. Advisers who know how to use AI well will be better equipped to thrive—with deeper insights, better preparation and more time to understand family concerns, build trust and strengthen relationships.

 

Using AI well also means using it safely—protecting confidential client information, recognising bias and unreliable outputs, and maintaining appropriate human oversight. AI can generate an answer. Advisers remain accountable for the advice.

 

Deputy Prime Minister Gan recently launched the IBF AI Workforce Co-Lab to prepare the financial sector for changing jobs through training and job redesign. In his address, he highlighted WMI’s role in working with IBF and private banks to develop programmes that combine AI skills with client engagement and advisory expertise.

 

Our focus is practical, role-specific training for wealth and asset management professionals, with safe and responsible AI use embedded throughout. Over the next three years, WMI expects 21,000 enrolments in this training.

 

Our goal is to help professionals turn AI capability into higher productivity, better advice and deeper client relationships.

 

Conclusion and Next Segment

Ladies and gentlemen, this brings me nicely to our next segment. How we turn AI’s capabilities into better investment decisions is the focus of our opening session.

 

We are privileged to welcome Ray Dalio to lead this discussion. Ray has spoken at several WMI Summits on a wide range of topics. Ray needs little introduction to this audience, but I would like to take this opportunity to thank him for his generosity and his deep partnership with WMI.

 

Together with Ray and the Dalio Philanthropies team, WMI developed the Dalio Market Principles programme, which has now reached close to 4,000 learners in 50 countries. Some of you here may have completed it yourselves. Feedback from learners and institutional partners has been outstanding, with 98 per cent saying they would recommend the programme to others.

 

Ray has longstanding ties with Singapore and the region. Through OceanX and other initiatives, he has generously supported education, exploration and discovery. We are deeply grateful for his commitment to sharing knowledge and creating opportunities for others to learn.

 

Today, Ray will explore how AI is enhancing decision-making, transforming investment processes and changing the role of advisers. His insights will set the stage for a day of discussion on strengthening our capabilities and better serving the families who place their trust in us.

 

Thank you all for joining us. I wish you a rewarding day of learning and conversation. Please join me in warmly welcoming Ray Dalio.