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SINGAPORE: A new programme has been launched to help fill the shortage of wealth managers in Asia. This will add to existing programmes already in place at the Wealth Management Institute of Singapore (WMI).
The institute said it hopes to attract students from other parts of Asia, including the Middle East.
The institute, which was celebrating its fifth anniversary on Friday, offers two courses - certificate to masters level - attracting students from over 18 countries. And now, it has added an advanced wealth management programme.
Having trained over 1,600 wealth managers, WMI is hoping to attract even more students in the coming years.
Annie Wee, Executive Director & CEO, WMI, said: "We can easily see in five years' time, it could be 4,000, because don't forget that people who come on stream will be interested in continuing education. In this very fast stream of investments, you will need to continue education."
The institute hopes to further strengthen talent ties within Asia and build on growing relationships in the Middle East.
Ng Kok Song, Chairman, WMI, said: "I think that in the future we would like WMI in Singapore to become the hub for wealth management education in the region. And when I speak about the region, I don't just mean the Asian region, but I also mean the growing Middle Eastern region.
"So as WMI gains credibility as an educational training institution in wealth management, we would hope to be able to respond to the training needs of financial institutions.
"We hope that it will bring their wealth management professionals from the Middle Eastern countries, from the other Asian countries and help them train in Singapore, in collaboration with WMI."
WMI said that despite the current slow down in the financial market, they expect demand for wealth managers to continue in the long term on the back of increasing affluence in Asia. - CNA/vm
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