The Association of Independent Asset Managers Singapore, the representative industry body for External Asset Managers and Multi-Family Offices in Singapore, is rebranding itself to the Association of Independent Wealth Managers (Singapore) or AIWM Singapore.

The announcement was made on April 22, its 10th anniversary, with the unveiling of a new logo, video and website.

According to the association, the new name reflects its commitment to promote the growth of Singapore’s independent wealth management industry. The name change is also meant to better represent the interest and work of AIWM Singapore’s members, which focuses on wealth management.

The association was established in 2011, and has built a diverse, collaborative community of over 80 active member firms from leading banks, external asset managers, family offices and service providers in Singapore.

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“This nuanced change reflects the growth and evolution of the association since its inception in 2011, and it will make us more inclusive and representative of a thriving community of independent wealth managers, external asset managers and multi-family offices in Singapore,” says Lucie Hulme, president of AIWM Singapore.

“We took this opportunity to rethink not just the association’s name, but our entire brand promise to make us a better fit for the future in a wealth landscape that has evolved far beyond asset or fund management alone. This will also put us in a stronger position to drive the long-term growth of Singapore’s independent wealth management ecosystem,” Hulme adds.

“The number of independent wealth managers has been steadily increasing in Singapore and the rapid growth in Asia’s private wealth in recent years has created a favourable backdrop for the continued expansion of the independent wealth management industry,” notes Jolene Tan, vice president of AIWM Singapore.

“As investors reassess their investment priorities and objectives in the post-pandemic environment, this is a timely opportunity for us to raise awareness about the role of independent wealth managers in meeting the evolving needs of new and affluent investors, open to different models of wealth management.”