How the ultra wealthy can future-proof their wealth

Business Times

19-05-2025

IN AN increasingly fragmented world, wealth faces new kinds of pressure. Gone are the days when global interconnectedness could be taken for granted. Today, protectionist policies, regional conflicts, and the retreat of globalisation are redrawing the map of economic power and financial security.
For ultra-high-net-worth (UHNW) families – typically defined as those with over US$30 million in investable assets – the urgency to rethink wealth strategy has never been greater.
Over the last few decades, UHNW families rode a wave of globalisation. Capital, goods, services and people moved across borders with increasing fluidity, enabling families to build multinational businesses, invest seamlessly across continents, and set up homes in multiple countries. But we are now witnessing a decisive shift.
Globalisation is slowing – some would argue, reversing. Trade wars, tightening immigration rules, sanctions, reshoring of supply chains and rising nationalism are fracturing global networks. Major economies are prioritising domestic industries over international cooperation. Cross-border investment is becoming more complex. Even historically stable democracies are introducing new capital controls and tightening tax regulations.
This evolution introduces a paradox – the world is smaller in terms of information and technology, yet harder to navigate in terms of finance, mobility and asset protection. That's where geographic diversification becomes not just a tool, but a vital safeguard.
Diversification matters
Wealth concentrated in a single region or legal system is increasingly vulnerable. Spreading family assets, operations and residencies across multiple jurisdictions allows families to reduce exposure to localised volatility. Whether it's mitigating the risk of regulatory overreach, accessing new and diverse markets or ensuring legal structures for succession planning remain intact under different systems of law, a geographically diversified strategy builds both resilience and optionality. This is especially critical at a time when capital flows can be disrupted by shifts in foreign policy, tax-code changes or even public sentiment.
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One country stands out as a particularly compelling starting point for UHNW families beginning this global diversification journey – Singapore. It offers something rare in today's environment – predictability. Politically neutral, economically strong and strategically positioned in Asia, Singapore has evolved into a natural hub for international wealth. Its clear legal system, well-regulated financial markets and low corruption level make it a jurisdiction where investors feel confident. It balances strict compliance with an approach that respects financial privacy and operational autonomy; this is a critical combination for those managing significant and often complex wealth structures.
Singapore's appeal doesn't stop at governance. It also offers world-class financial infrastructure and a highly developed ecosystem of private banks, legal advisers, investment managers and family office professionals. At the same time, family offices operating in Singapore can take advantage of beneficial tax treatment, including the absence of capital gains, inheritance and estate taxes. This makes it particularly attractive not just for investment management but also for legacy planning.
But while Singapore may be a strong foundation, a single hub is not enough. A truly future-proofed wealth strategy involves building presence and exposure in several complementary jurisdictions around the world.
Europe, for example, offers some of the most established legal and financial systems. Countries like Switzerland and Luxembourg are favoured for their banking traditions and privacy protections, while places like the UK and Portugal offer attractive residency pathways and access to the broader European market. These jurisdictions allow families to place trust structures, foundations or holding companies under legal regimes designed to preserve wealth across generations.
North America remains important, especially for families looking to participate in tech innovation, private equity and philanthropy. The US continues to be a magnet for capital due to its deep markets and broad business ecosystem. Canada also offers stable governance and strong institutions, along with pathways for skilled migration and education that many families prioritise for the next generation.
In the Middle East, countries like the UAE are emerging as wealth hubs in their own right. Dubai, in particular, has seen a surge in international family offices, thanks to its tax advantages, state-of-the-art infrastructure and open approach to business. With strategic links to both Asia and Europe, it's increasingly seen as a complementary base to Singapore.
A networked model
As families broaden their geographic footprint, structure becomes paramount. Many are evolving beyond the traditional single-family office to a networked model with multiple touchpoints across the globe. A primary office might be located in Singapore, for example, with satellite offices managing European and North American portfolios. This distributed model enables families to operate closer to their assets, comply with local rules more effectively, and remain agile in the face of changing regulations.
Yet coordinating such a strategy – across jurisdictions, asset classes, and generations – requires more than just vision. It demands a structured approach with the infrastructure, expertise, and global reach to execute seamlessly. This is where a centralised partner with institutional-grade capabilities can offer significant value. Through a comprehensive ecosystem of investment, compliance, legal, tax, and operational professionals, families can build and maintain globally diversified structures that are both efficient and compliant.
A well-organised structure serves as the connective tissue across a family's global presence, overseeing legal entities, aligning wealth planning across jurisdictions, and ensuring transparent reporting in a complex regulatory landscape. For UHNW families, this level of coordination is critical. Without it, efforts to diversify can lead to fragmented oversight, redundant structures, and unnecessary risk. With the right approach, families can focus on long-term strategic outcomes, confident that their cross-border operations are professionally managed.
Of course, such a structure brings complexity especially when it comes to legal, tax, and reporting obligations. Each jurisdiction has different requirements, and cross-border compliance must be carefully managed. Harmonising these obligations demands a coordinated team of advisers with deep expertise in international wealth. Succession planning must also be structured with multiple legal systems in mind to avoid conflicts in inheritance law or probate challenges.
There are also softer considerations. Lifestyle, culture, education, and healthcare systems all play a role in deciding where to invest and reside. For families thinking not only about capital but also about where their children will grow up, where they'll live in retirement, and where they'll give back philanthropically, these human dimensions are as important as financial ones.
Technology, too, has become a vital enabler of geographic diversification. Sophisticated wealth platforms and digital tools allow family offices to track global portfolios, manage compliance workflows, and maintain communication across time zones. In fact, digital infrastructure can be the glue that holds a dispersed global structure together, enabling real-time decision-making and transparency across generations.
Ultimately, the world is shifting toward a more localised model. Political borders are becoming more consequential again. Economic nationalism is rising. Financial secrecy is being replaced by reporting transparency. In this landscape, wealth that is too concentrated – geographically, institutionally, or strategically – is inherently at risk.
The UHNW families who will thrive are those who think globally, act strategically, and adapt to this new world order. Starting in Singapore gives them a firm foundation, but true resilience lies in building a multi-jurisdictional footprint, one that is managed with a coordinated approach that ensures seamless cross-border operations.
Wealth, after all, is not only about accumulation; it's also about freedom – to move, to build, to protect, and to choose. In a world becoming more complex, geographic diversification is what keeps the doors open.
The writer managing director, AlTi Wealth Management (Singapore), a company of AlTi Tiedemann Global, an international multi-family office managing or advising on US$76 billion in combined assets.