Winners rationale

While the COVID-19 pandemic has helped to highlight the importance of wealth planning among independent wealth managers and their clients, Lighthouse Canton has gone above and beyond in offering value-added solutions to U/HNWIs in the region.

Aside from the bread-and-butter services of trust structure, succession planning and tax advisory, the Singapore-based group has carved out a space for itself in the market that few peers have been able to match.

Among the capabilities that were presented to the Asian Private Banker judging panel were Lighthouse Canton’s prowess in setting up bespoke funds for clients, as well as its active engagement with regulators in Singapore in order to gain tax exemptions for funds under Section 13 of the Singapore Income Tax Act. In addition, the firm has taken a pro-active stance in identifying opportunities to provide advice to clients, such as during business acquisitions and life events, including divorce and prenuptial agreements.

Those efforts translated into new business during the period under consideration, when Lighthouse Canton acquired nine new clients, of which five were referred by existing ones. Those engagements on the wealth planning side also had the knock-on effect of boosting the overall AUM of the independent wealth manager by a few hundred million US dollars.

The judging panel was particularly impressed by a real-life example shared by Lighthouse Canton that illustrated the breadth of its wealth-planning capabilities. The client, who held the nationality of one country but whose family were located in two others, was able to consolidate his assets into a Private Trust Company structure in Singapore that itself was held in a Jersey Purpose Trust, eliminating the need for a will for the assets. Lighthouse Canton was able to provide services including law and regulatory analysis of the clients’ various assets; execution of the structure; transfer of assets and holdings; as well as sourcing an international law firm to advise on the process.

Lighthouse Canton in 2021 demonstrated a dedication to enhancing client knowledge. A series of eBooks produced by the group address key topics and questions on wealth planning-related issues, such as the differences between trusts and foundations, and drafting wills in Singapore versus internationally. The independent wealth manager launched a knowledge centre during the year, providing clients with access to timely investment updates as well as content aimed at increasing engagement with the next generation.

These are the reasons why Lighthouse Canton is the winner of Asian Private Banker’s Best Independent Wealth Manager – Wealth Planning Services for 2021.